SPGI - Parnassus Growth Equity Fund Q1 2024 Investment Commentary
2024-05-26 10:15:00 ET
Summary
- Parnassus Investments is a fundamental, bottoms-up investment firm offering responsible investment funds to the public. Parnassus Investments integrates comprehensive ESG evaluations with fundamental financial analysis to select investments.
- The Fund (Investor Shares) returned 12.91% for the quarter, outperforming the Russell 1000 Growth Index’s 11.41%.
- The outperformance was primarily driven by our stock selection in the Consumer Discretionary and Information Technology sectors.
- During the quarter, our overweight in the Health Care sector grew with the addition of Natera and Intuitive Surgical, netted against the sale of Vertex.
- We are taking a balanced approach to portfolio positioning, neither overly offensive nor defensive, as the market seems increasingly confident in a soft landing.
Parnassus Growth Equity Fund
| Fund Facts |
| Investor Shares |
| Institutional Shares |
| Ticker |
| PFGEX |
| PFPGX |
| Net Expense Ratio1 |
| 0.84% |
| 0.63% |
| Gross Expense Ratio |
| 2.71% |
| 2.30% |
| Inception Date |
| 12/28/2022 |
| 12/28/2022 |
| Benchmark |
| Russell 1000 Growth Index |
| Asset Class |
| U.S. large cap growth |
| Objective |
| Capital appreciation |