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 |
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For further details see:
Parnassus Growth Equity Fund Q1 2024 Investment Commentary