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Should You Buy Parnassus Fund (PARNX)?

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Parnassus Fund (PARNX - Free Report) a Zacks Ranked #1 (Strong Buy) was incepted in December 1984 and is managed by Parnassus Investments. PARNX seeks long-term growth of capital. PARNX uses a contrarian investment strategy, investing in stocks that are out of favor with the financial community and are, therefore, undervalued. PARNX invests 15% of its total assets in foreign securities and up to 5% in warrants. The fund invests 5% of its total assets in community-development loan fund, such as those that provide financing for small business and for low and moderate-income housing. PARNX distributes its dividends and capital gains, if any, annually.

This Large Value fund, as of the last filing, allocates their fund in three major groups; Large Value, Large Growth and Small Growth. Further, as of the last filing, Altera Corp, Perrigo Company and International Business Machines Corporation were the top holdings for PARNX.

Parnassus Fund, managed by Parnassus , carries an expense ratio of 0.84. Moreover, PARNX requires a minimal initial investment of $2,000.

PARNX has a history of positive total returns for over 10 years. Specifically, the fund’s returns over the 1, 3, 5 year benchmarks; 1 year 4.04%, 3 year 18.04% and 5 year 18.03%. To see how this fund performed compared in its category, please click here.

PARNX’s performance, as of the last filing, when compared to funds in its category was in the top 17% in 1 year, top 4% over the past 3 years, and in the 5% over the past 5 years.

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