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Parnassus Investments has launched its first actively managed international equity mutual fund, the Parnassus International Equity Fund (PRBRX/PFPEX). Managed by Ken Ryan, CFA, the fund applies Parnassus's proven investment philosophy to international markets, focusing on high-quality companies with competitive advantages and sustainable practices. The fund will maintain a high-conviction portfolio of 45-55 large cap stocks across 25 countries, primarily in Europe and Asia Pacific regions, with up to 15% exposure to emerging markets.
The fund features a low-turnover strategy, high active share, and uses the MSCI EAFE Index as its benchmark. This launch comes amid growing investor demand for international diversification, supported by Parnassus's 50% investment team expansion over the past three years to enhance its global research capabilities.
