For best results, investors should have a long-term perspective and plan to hold their shares for at least three years. make a judgment on which companies have a good workplace based on factors such as respect and fair treatment of employees, good two-way communication, equitable pay and benefits, family-friendly policies and support for voluntarism and charitable The Parnassus Workplace Fund invests mainly in companies that the Adviser considers to have a good workplace for its employees. Principal Strategies. substantial portion of their assets in money-market instruments (i.e.,cash or cash equivalents). The obligations of BlackRock Funds entered into in the name or on behalf thereof by any of the Trustees, officers, representatives or agents are made not individually, but in such capacities, and are not binding upon any of the Trustees, shareholders, officers, representatives or agents of the Fund personally, but bind only the Trust Property (as defined in the Declaration of Trust), and all persons dealing with any class of shares of the Fund must look solely to the Trust Property belonging to such class for the enforcement of any claims against the Fund. financial health and its business prospects and also takes into account social factors in making investment decisions. The Adviser looks for companies that have good growth prospects, while also having proven businesses. The Fund's share price may change daily based on the value of its security holdings. See the SAI for more details. Parnassus Value Equity (formerly Parnassus Endeavor) is still taking form with a new comanager and refinements to its relative-value approach. Please call us if you have any questions regarding our privacy policy. RADiENT dramatically simplifies identifying and analyzing funds, researching investment advisers and creating portfolios. The average expense ratio from all mutual funds is 0.74%. that you invest $10,000 in the Funds for the time periods indicated and then redeem all of your shares at the end of those periods. 100.00% of all the mutual funds are no load funds. Affiliated Managers Group's AMG shares jumped 7%, following the acquisition announcement of a majority equity stake in Parnassus Investments, one of the largest sustainable investing fund. Acquisition Fund means any company formed with the intent to offer securities to the public and use the proceeds to consummate one or more Business Combinations which are unspecified at the time of the securities offering. Investment Objective and the highest return for a quarter was 44.6% (quarter ending December31, 1998), and the lowest return for a quarter was a loss of 25.1% (quarter ending September30, 2002). These companies can be of any size, and in the Adviser's opinion, they should be trading below their intrinsic value. There is no limit on the number or dollar amount of exchanges. following ways: To open an account online, go to www.parnassus.com and follow the instructions on the While smaller capitalization companies can be riskier than larger companies, they can also provide more potential for future growth. contrarian strategy of seeking to invest in stocks that are currently out of favor with the financial community and are, therefore, deeply undervalued. Community Contribution Company means a corporation formed under the laws of British Columbia that includes in its articles the following statement: road reserve means the area contained within the statutory width of a road, and includes roadways, shoulders and sidewalks and the airspace above such roadways, shoulders and sidewalks and all other areas within the road reserve boundary; Excess Funds means, on any Additional Payment Date, the amount of funds then existing in the Deposit Account (including any Net Operating Income due on the applicable Additional Payment Date), less an amount equal to the sum of three regularly scheduled payments of principal and interest due on this Note; Subsidy Funds If the Trust Estate contains any Subsidy Loans, funds contributed by the employer of a Mortgagor in order to reduce the payments required from the Mortgagor for a specified period in specified amounts. Each of the Funds also mountain in central Greece whose twin peaks rise more than 8,000 feet above sea level. A fee of $15.00 will be assessed if a check is returned to the Funds unpaid due to insufficient funds, stop also screen out weapons contractors and those that generate electricity from nuclear power. backup database of Parnassus customers and accounts is maintained at an outside facility. must redeem your shares through the Servicing Agent. decline in value of the Funds investments. a fee either at the time of purchase or redemption. Institute. All redemption checks must be sent to the address of record on the account. The portfolio managers leverage the investment team's stock selection insights to select debt securities. The Funds are managed by Parnassus Investments (the Adviser). of the Funds portfolio securities is the market value of such securities. We may disclose information to non-affiliated parties if compelled by law, overall market. Municipal bonds are a staple when it comes to tax-efficient fixed-income investing. . The Funds reserve the right to reject any purchase or exchange transaction at any time. The Trustees may, in order to reduce the expenses of the Funds, redeem all of the shares of any shareholder whose account is worth less than $500 as a result of a required to pay taxes on any amount paid to them. Parnassus, an investment management company, focuses on building wealth by investing in companies that have a positive impact on society through strong environmental, social and corporate governance (ESG) practices. Parnassus Investments, One Market The fund seeks capital appreciation and current income. Apollo, representing civilization, challenged Python, representing anarchy, there was a heroic struggle, but the god finally killed the dragon by shooting a hundred arrows into its body. When you sell your shares, they may be worth more or less than what you paid. From 1982 to 1984, he was President of Working Assets Money Fund. The Parnassus Small-Cap Fund invests primarily in the stock of companies with market capitalizations under $3 billion at the time of initial Graduate School of Business Administration where he received an MBA. The Funds offer both UGMA (Uniform Gift to Minors Act) and UTMA (Uniform Transfer to Minors Act) accounts. Also, community loan funds do not have the same kind of resources as do large commercial enterprises. The most Greek of the gods, Apollo represented enlightenment and civilization and presided over the establishment of cities. The Parnassus Funds are actively managed mutual funds that seek to identify quality companies with attractive valuations. daily based on the value of their holdings. Parnassus is a Parnassus Fund charged a sales load of a maximum of 3.5%, which is not reflected in the total return figures. This section provides or the well established businesses of the larger companies. The Funds will attempt to achieve this objective by investing primarily in equity securities of companies of various sizes based on the criteria described below. remain the same. growth of capital. The capital gain distribution is usually made in November of each year and the income dividend in December. Relationships with these parties shall be pursuant to a non-disclosure agreement, protecting the release of shareholder information. Multi-Cap funds invest in companies of all In of short-term capital gains are taxed as ordinary income under Federal income tax laws. be liable for following instructions communicated by telephone reasonably believed to be genuine; a loss to the shareholder may result due to an unauthorized transaction. After-tax returns are calculated using the historical highest federal marginal income tax rates and do not reflect the impact of state and local taxes. The company offers investors 5 mutual funds, in terms of the number of individual fund symbols. Legally, shareholders may redeem at any time, but the Adviser recommends a minimum three-year holding period. If received before 4:00 p.m. Eastern time (1:00 p.m. San Francisco time), investments will be processed at the net asset value calculated on the same include one or more of the following: recording all telephone calls requesting telephone exchanges, verifying authorization and requiring some form of personal identification prior to acting upon instructions and sending a statement each time a Advice, rankings and one great story every day. However, securities and other assets for which market quotations are not readily available are valued at their fair value as determined in good faith by the Adviser showing how the Funds average annual total returns, before and after taxes, compare with a stock index and a group of similar mutual funds and also how the Funds performance varies from year to year. Street, Suite 100 . The average expense ratio from all mutual funds is 0.74%. Managers invest in about 40 holdings in which they have strong conviction. An exchange of the Funds shares for shares of another fund will be treated as a sale of the respective Funds shares for tax purposes, and any gain on the transaction may be subject to state and In general, the Adviser will choose investments that it believes will have a positive social impact. Identified with the development of Greek codes of law, Apollo was also the god of light, a master musician and a skilled archer. These companies must, in the Advisers opinion, be undervalued, but they must also have good prospects for long-term growth and an identifiable catalyst that (Tax-exempt retirement accounts, of course, never have to pay taxes.). We restrict access to non-public personal information about you to those employees who need to know that information to provide products or services to you. Purchasing Shares from Broker-Dealers, Financial Institutions and Others. The Adviser will conduct its own research to select companies for inclusion in the Fund, but the Adviser will also rely on outside sources, as the Adviser may deem appropriate from time to time, including, but not For eligible accounts, you can redeem your shares by calling (800)9993505. 1.40% of net assets for the Parnassus Fund, the Parnassus Workplace Fund, the Parnassus Small-Cap Fund and the Parnassus Mid-Cap Fund, respectively. ESG Strategy, Insight, Education and more , Looking for the Highest Guaranteed Returns? Servicing agents may: If you decide to purchase shares through Servicing You can have the Funds automatically redeem, on a periodic basis, a set amount from your Redemption amounts for over $50,000 may be requested only by mail. The Funds may enter into agreements with broker-dealers, financial institutions or other To determine a companys prospects, the These service providers may charge fees for the services they provide or impose restrictions that may be in may invest up to 2% of its assets in community-development loan funds, such as those that provide financing for small business and for low and moderate-income housing. For example, the figure for ten years is not the annual expense figure, but the total cumulative expenses a shareholder would have paid for the entire ten-year The Funds may be required to impose backup withholding at a rate of 28% from any income dividends and capital-gain distributions. www.parnassus.com PO Box 541150 . website. Holders of IRAs and other tax-deferred retirement accounts are not required to pay taxes until distribution. The fair value of a security may differ from the last quoted price, and a Fund may not be Statement has been signed by the following persons in the capacities and on the date indicated. Procedures may The oldest fund launched was in 1984. Your shares will be redeemed Parnassus is a company that sells mutual funds with $40,340M in assets Parnassus, controlled the site of Delphi. Agents, please carefully review the program materials provided to you by the Servicing Agent. Jerome L. Dodson, the Funds President, is the majority stockholder of Parnassus Investments. Parnassus Income Funds and the Registrant. If you're concerned about volatility in your retirement account, consider these top Fidelity picks. We will Under strict confidence, a However, we may provide such information to third parties in the course of servicing your account, such as account and deposit the proceeds into your bank account. that instructions communicated by telephone are genuine. The Portfolio is also subject to investment style risk. service providers (Servicing Agents) that may include the Funds as an investment alternative in the programs they offer or administer. Invest in your principles with these mutual funds and ETFs. Username. investments, shareholders should write the name and number of the account on the check. The Funds and Parnassus Investments may be liable for any losses due to unauthorized or fraudulent instructions only if such reasonable procedures are not followed. The NAV may not be determined on any day that there are no transactions in shares of the Funds. period. The Funds may delay a redemption request Thats understandable and quite reasonable. The 2005 financial statements were audited by Deloitte& Touche LLP, an independent registered Market StreetSuite 1600 San Francisco, California 94105 Ladies and Gentlemen: We have acted as counsel for you in connection with the preparation of an Amended Registration Statement on Form N-1A of Parnassus Funds (the Trust) relating to the sale by you of an indefinite amount of units of beneficial interest (such units of beneficial interest being hereinafter referred to as the Shares) in the manner set forth in the Amended Registration Statement to which reference is made. He is also President and a Trustee of Parnassus Income Funds. Parnassus is a company that sells mutual funds with $40,340M in assets under management. Fund data provided by Xignite and Morningstar. core fund followed by Lipper, Inc. Shareholders can eliminate any Investing in the Funds may result in a loss of money. Venture capital fund means a private fund that meets the definition of a venture capital fund in SEC Rule 203(l)-1, 17 C.F.R. Volitility measures reflect the uncertainty or risk of change in a security`s value. addition, the Adviser reserves the right to impose restrictions on purchases or exchanges at any time on conditions that are more restrictive on disruptive, excessive, or short-term trading than those that are otherwise stated in this prospectus. High timely basis. Give your account number and indicate the number of shares or the dollar amount you wish to redeem. From time to time, value investing falls out of favor with investors. Provident Fund means any fund (other than a pension fund, benefit fund or retirement annuity fund) which is approved by the Minister in respect of the year of assessment in question: Provided that the Minister may approve a fund subject to such limitations or conditions as he or she may determine, and shall not approve a fund in respect of any year of assessment unless he or she is in respect of that year of assessment satisfied -. The fund earns a Morningstar Analyst Rating of. 2 The Parnassus Small-Cap Fund The Parnassus Endeavor Fund is a U.S. large value fund that invests in principally undervalued quality companies with sustainable competitive advantages. Amount you wish to redeem over the establishment of cities please call us if you have questions. Quality companies with attractive valuations and creating portfolios day that there are no load Funds Guaranteed returns and! 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