05/12/2025 – 09:00 AM

New Actively Managed Fund Brings Parnassus’s Proven Investment Philosophy to International Markets

SAN FRANCISCO–(BUSINESS WIRE)–
Parnassus Investments, a pioneer in high-conviction, sustainable investing, today announced the launch of the Parnassus International Equity Fund, its first actively managed international equity mutual fund. The fund is available in two share classes: Investor Shares (ticker symbol PRBRX) and Institutional Shares (ticker symbol PFPEX). This new fund extends Parnassus’s disciplined investment approach beyond U.S. borders, offering investors a carefully curated portfolio of high-quality, competitively advantaged companies based outside the U.S.

The Parnassus International Equity Fund will be managed by Parnassus Portfolio Manager Ken Ryan, CFA, a seasoned investor with more than a decade of experience in global equity research and portfolio management. The fund follows Parnassus’s established investment philosophy, focusing on companies with durable competitive advantages, increasingly relevant products and services, strong management teams and sustainable business practices. With the MSCI EAFE Index as its benchmark, the fund primarily targets developed markets, while allowing for up to 15% exposure to emerging markets.

“For years, clients have asked us to bring our proven approach to global markets, and now we’re delivering,” said Benjamin Allen, CEO of Parnassus Investments. “With the Parnassus International Equity Fund, we’re giving investors access to a high-conviction, research-driven strategy that can help diversify their stock allocations with exceptional companies outside the U.S.”

Unlike many broad-based international funds, the Parnassus International Equity Fund is a high-conviction, actively managed portfolio, holding 45 to 55 large cap stocks selected through rigorous bottom-up fundamental research. Key fund characteristics of the fund include:

• International Exposure—Investments span 25 countries, primarily in the Europe and Asia Pacific regions represented by the MSCI EAFE Index.
• High-Conviction, Low-Turnover Strategy—The fund aims to maintain high active share, emphasizing long-term investments rather than passive benchmark tracking.
• Sustainable Investing—Parnassus applies its sustainability lens across all holdings, while also recognizing regional differences in sustainability reporting and regulatory frameworks.

The launch of this fund comes at a strategic moment, driven by growing investor demand for broader diversification of and lower correlation to U.S. equities. Over the past three years, Parnassus has expanded its investment team by nearly 50%, enhancing its research capabilities to evaluate high-quality companies across markets outside the U.S. The fund leverages Parnassus’s deep research expertise, as many of the selected portfolio companies have been closely studied in relation to their U.S. counterparts.

“Investors recognize that international markets present compelling opportunities,” said Ken Ryan, portfolio manager at Parnassus Investments. “With our proven approach to stock selection and risk management, we believe this fund can serve as a valuable complement to U.S. equity holdings, while capturing the benefits of global diversification.”

For more information, please visit parnassus.com.

About Parnassus Investments

Parnassus Investments is a research-driven investment boutique founded in 1984 on the belief that a well-managed responsible investment strategy could outperform traditional approaches. It offers a focused set of highly active equity investment strategies in a variety of convenient investment vehicles. Its investment team carefully selects a small number of companies for its portfolios, investing in high-quality businesses they believe have increasingly relevant products or services, durable competitive advantages, strong management teams and sustainable business practices. Headquartered in San Francisco, California, Parnassus has 83 employees and $45.6 billion in assets under management as of December 31, 2024. For more information, please visit parnassus.com and follow us on LinkedIn.

PIL-712480-2025-04-01

The MSCI EAFE Index (net) is a stock market index that measures the performance of large- and mid-cap companies across 21 developed markets countries around the world. Canada and the USA are not included. EAFE is an acronym that stands for Europe, Australasia, and the Far East. It is not possible to invest directly in an index.

Active Share: A measure of the percentage of stock holdings in a manager’s portfolio that differs from the benchmark index.

Mutual fund investing involves risk, and loss of principal is possible. Past Performance cannot predict future results.

The Fund invests primarily in foreign securities. Foreign markets can be more volatile and less liquid than the U.S. market due to increased risks of adverse issuer, political, regulatory, market or economic developments and can perform differently from the U.S. market. Investing in emerging market securities imposes risks different from, or greater than, risks of investing in U.S. securities or in developed countries outside the U.S. ADRs are receipts, issued by depository banks in the United States, for shares of a foreign-based company that entitle the holder to dividends and capital gains on the underlying security. In addition to large-capitalization companies, the Fund may invest in small-and/or mid-capitalization companies, which can be particularly sensitive to changing economic conditions since they do not have the financial resources or the well-established businesses of large-capitalization companies.

Sustainable business risk refers to the risk stemming from investing in companies with sustainable business practices. The Fund seeks to invest in quality companies with sustainable business practices and to avoid investments in companies that do not meet its quality expectations.

©2025 Parnassus Investments, LLC. PARNASSUS, PARNASSUS INVESTMENTS and PARNASSUS FUNDS are federally registered trademarks of Parnassus Investments, LLC.

The Parnassus Funds are distributed by Parnassus Funds Distributor, LLC.

Before investing, an investor should carefully consider the investment objectives, risks, charges and expenses of a fund and should carefully read the prospectus or summary prospectus, which contain this and other information. The prospectus or summary prospectus can be found on the website, www.parnassus.com, or by calling (800) 999-3505 for a mutual fund prospectus or (855) 514-4443 for an ETF prospectus.

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Joe Collins
River Communications
jcollins@riverinc.com

Source: Parnassus Investments