PFPWX – Parnassus Value Equity Institutional Investment Strategy | Morningstar

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Strategy

The investment seeks capital appreciation. The fund’s objective is to achieve capital appreciation by investing primarily in a diversified portfolio of equity securities. Equity securities include common and preferred stock. These companies must, in the adviser's opinion, be undervalued, but they must also have good prospects for long-term capital appreciation over the course of the expected holding period.

Ticker	Name	Share Class Type	Investment Status	Morningstar Rating for Funds Overall	Medalist Rating Overall	Inception Date	Total Net Assets for Share Class	Adjusted Expense Ratio	Fee Level Distribution	Minimum Initial Investment	1-Year Net Flow
PARWX	Parnassus Value Equity Fund Investor Shares	No Load	Open			Apr 29, 2005	$3.21B	0.880%	Above Average	$2,000	−$403.97M
PFPWX	Parnassus Value Equity Fund Institutional Shares	Institutional	Open			Apr 30, 2015	$1.98B	0.650%	Average	$100,000	−$63.36M

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