ADYEY - Parnassus Mid Cap Growth Fund Q2 2024 Investment Commentary
2024-07-17 08:40:00 ET
Summary
- Parnassus Mid Cap Growth Fund (Investor Shares) returned -3.20% (net of fees) for the second quarter of 2024, approximately in line with the Russell Midcap Growth Index’s -3.21% return.
- Stock selection in the Information Technology and Industrials sectors contributed to relative results, while selection within Real Estate and Health Care detracted.
- The portfolio position in Consumer Discretionary shifted from an overweight to an underweight during the quarter, while the overweight position in Information Technology increased.
- We remain enthusiastic about our portfolio’s thematic overweights to advantaged industries like semiconductors, software, life sciences tools and housing.
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Parnassus Mid Cap Growth Fund Q2 2024 Investment Commentary