PNR - Parnassus Fixed Income Fund Q2 2024 Investment Commentary
2024-07-16 11:35:00 ET
Summary
- Demand for corporate credit remained strong, aiding results Parnassus Fixed Income Fund (Investor Shares) returned 0.17% for the second quarter period.
- The strategy pursues an attractive level of current income by owning a core-plus bond portfolio with a significant allocation to green/sustainable bonds that further climate and sustainability goals.
- The portfolio’s overweight to corporate bonds drove the majority of portfolio returns as these issues continued to benefit from a strong economy.
- While we believe that corporate bonds provide the best long-term returns because they have higher initial yields, we have further reduced our exposure to the asset class.
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Parnassus Fixed Income Fund Q2 2024 Investment Commentary