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Parnassus Investments

PRI reporting framework 2017

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Investment policy

SG 01. RI policy and coverage

New selection options have been added to this indicator. Please review your prefilled responses carefully.

01.1. Indicate if you have an investment policy that covers your responsible investment approach.

01.2. Indicate the components/types and coverage of your policy.

Select all that apply

Policy components/types

Coverage by AUM

01.4. Indicate what norms you have used to develop your investment policy that covers your responsible investment approach.

01.6. Provide a brief description of the key elements, any variations or exceptions to your investment policy that covers your responsible investment approach. [Optional]

Parnassus Investments is a fundamental, bottom-up investor that seeks to own concentrated portfolios of high-quality enterprises for the long-term. 

To assess business quality in an effort to develop an opinion about the future direction of a company’s intrinsic value, the investment team considers the future relevancy of the company’s products or services, its moats and its management. ESG factors are evaluated by the fundamental research team and ESG specialists alongside traditional fundamental factors at every step of the investment process. The result is a detailed quality assessment of the business and a valuation that includes a probability-weighted range of potential outcomes over a three-year investment horizon.

Parnassus Investments' investment overview is publicly available on the company website:

https://www.parnassus.com/how-we-invest/


SG 02. Publicly available RI policy or guidance documents

New selection options have been added to this indicator. Please review your prefilled responses carefully.

02.1. Indicate which of your investment policy documents (if any) are publicly available. Provide a URL and an attachment of the document.

URL/Attachment

URL/Attachment

02.4. Additional information [Optional].


SG 03. Conflicts of interest

03.1. Indicate if your organisation has a policy on managing potential conflicts of interest in the investment process.

03.2. Describe your policy on managing potential conflicts of interest in the investment process.

Code of Ethics

The Parnassus Funds (the "Funds"), Parnassus Funds Distributor (the "Distributor") and Parnassus Investments (the "Adviser") have adopted a Code of Ethics in compliance with Rule 17j-1 under the Investment Company Act of 1940 (the “Act") and Rule 204a-1 under the Investment Advisers Act of 1940.

In their personal investments, all Trustees and officers of the Fund and all officers, directors and staff of the Adviser and the Distributor have a fiduciary duty to place the interests of Fund shareholders and clients before their own personal interests at all times.

Identification of Affiliated Persons

The Funds have adopted policies and procedures to prevent self-dealing and overreaching by persons in a position to take advantage of the Funds. The Act prohibits Funds from entering into certain transactions with affiliated persons, as defined by the Act. These policies and procedures are designed to prevent unlawful transactions with them.

No less frequently than annually, each member of the Board of Trustees and Officers of the Funds must complete and certify a questionnaire provided by the Funds detailing their business affiliations, which the chief compliance officer will review for potential conflicts of interest.

Proxy Voting

Please see Parnassus’ proxy voting procedures:

http://www.parnassus.com/how-we-invest/responsible-investment-approach#parnassus/proxy-voting

03.3. Additional information. [Optional]


SG 04. Identifying incidents occurring within portfolios (Private)


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