Parnassus Funds
06/16/2026 | Press release | Distributed by Public on 06/16/2026 10:01
Summary Prospectus by Investment Company (Form 497K)
Parnassus Mid Cap Growth FundSM
Investor Shares PARNX | Institutional Shares PFPRX
June 16, 2026
Supplement to the Prospectus and Summary Prospectus, each dated April 30, 2026
Effective June 11, 2026, Robert J. Klaber is no longer a Portfolio Manager of Parnassus Mid Cap Growth FundSM (the "Fund"). Effective immediately, Shivani R. Vohra will serve as a co-portfolio manager of the Fund alongside co-portfolio manager Ian E. Sexsmith, CFA, with the following changes being made to the prospectus and summary prospectus:
| 1. |
The "Summary Section - Parnassus Mid Cap Growth Fund - Portfolio Manager" section of the prospectus and the "Portfolio Manager" section of the summary prospectus are each hereby amended and restated as follows: |
Portfolio Managers
The Portfolio Managers of the Fund are responsible for the day-to-day management of the Fund's portfolio.
Ian E. Sexsmith is a Portfolio Manager of the Parnassus Mid Cap Growth Fund and has served as a portfolio manager of the Fund since 2013.
Shivani R. Vohra is a Portfolio Manager of the Parnassus Mid Cap Growth Fund and has served as a portfolio manager of the Fund since June 16, 2026.
For more information, please see "Management of the Funds" in the prospectus and "Portfolio Managers" in the SAI.
| 2. |
The "Management of the Funds" section of the prospectus is revised as follows: |
The sixth paragraph is deleted and replaced with the following:
Shivani R. Vohra is a Portfolio Manager of the Parnassus Growth Equity Fund and has served in this capacity since its inception in 2022. She is also a Portfolio Manager of the Parnassus Mid Cap Growth Fund and has served as a portfolio manager of the Fund since June 16, 2026. She is a Senior Analyst at Parnassus Investments where she has worked since 2019.
The eighth paragraph is deleted and replaced with the following:
Ian E. Sexsmith, CFA, is a Portfolio Manager of the Parnassus Mid Cap Growth Fund and has been a portfolio manager of the Fund since 2013. He is also a portfolio manager of the Parnassus Mid Cap Fund and has served in this capacity since January 1, 2024. He is a Senior Analyst at Parnassus Investments, where he has worked since 2011.
The ninth paragraph is deleted.
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