WDC - Parnassus Value Equity Fund Q1 2024 Investment Commentary
2024-05-26 05:30:00 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 10.17% for the quarter, outperforming the Russell 1000 Value Index’s 8.99%.
- The outperformance was largely driven by stock selection in the Information Technology and Communication Services sectors. Our overweight in Financials and underweight in Real Estate also contributed.
- We have positioned the Fund for an environment in which inflation continues to moderate, economic growth stabilizes, unemployment remains low, and credit conditions gradually loosen.
- This confluence of factors should broaden stock market gains to more sectors, an expectation that drives our overweight allocations in Financials, Communications Services and Health Care.
Parnassus Value Equity Fund
| Fund Facts |
| Investor Shares |
| Institutional Shares |
| Ticker |
| Net Expense Ratio1 |
| 0.88% |
| 0.65% |
| Gross Expense Ratio |
| 0.92% |
| 0.72% |
| Inception Date |
| 04/29/2005 |
| 04/30/2015 |
| Benchmark |
| Russell 1000 Value Index |
| Asset Class |
| U.S. large cap value |
| Objective |
| Capital appreciation |