Parnassus Core Select ETF returned 2.58% (net of fees) during the quarter, underperforming the S&P 500 Index's 2.66%. Parnassus Core Select ETF continues to maintain an overweight in defensive holdings to address ongoing volatility and uncertainty, while taking offensive positions in areas where our convictions are highest. Alphabet posted strong performance in the quarter as resilient revenues for its search business, improving growth in its cloud segment and renewed confidence in its vertically integrated AI strategy lifted investor sentiment.
On Thursday, Parnassus Investments made its debut in the world of ETFs with the launch of two equity funds. The actively managed ETFs aim to offer capital appreciation.
| Name | Quantity | Cost | Value | Profit ($) | Gain (%) |
|---|---|---|---|---|---|
James Rankin Modern Wealth Management, LLC | 11,384 | $287,879 | $329,794.48 | $41,915.48 | 14.56% |
| NYSE Exchange | United States Country |
The Parnassus Core Select Fund is a mutual fund renowned for its commitment to socially responsible investing. It aims to generate both long-term capital appreciation and income for its investors through a carefully curated, diversified portfolio of equity securities. Distinctively prioritizing environmental, social, and governance (ESG) factors, the fund meticulously screens investments to ensure they meet stringent ethical standards. Targeting sectors such as technology, healthcare, consumer goods, and financial services, the Parnassus Core Select Fund seeks out companies that not only lead their industries but also demonstrate robust competitive advantages, ethical operational practices, and significant growth potential. By focusing on firms with strong management teams and sustainable business models, the fund positions itself as an attractive option for investors who wish to align their financial objectives with their ethical convictions. As part of the broader movement towards responsible investing, the Parnassus Core Select Fund plays a crucial role in the financial markets, marrying financial returns with positive societal impacts.
The Parnassus Core Select Fund is predicated on the principle of socially responsible investing (SRI), leveraging the strategy to emphasize long-term capital growth and income. This approach involves investing in well-established, industry-leading companies that are not only financially sound but also uphold high ethical standards. By intertwining financial objectives with positive societal impact, the fund offers a compelling option for investors who prioritize sustainability and responsible corporate behavior in their investment choices.
At the core of the Parnassus Core Select Fund's offerings is its diversified portfolio of equity securities. This portfolio is the result of a rigorous selection process focused on identifying companies across various sectors—including technology, healthcare, consumer goods, and financial services—that demonstrate sustainable business models and robust growth potential. The fund targets industry-leading companies that possess strong competitive advantages, thereby ensuring its investments are not only ethically sound but also positioned for long-term capital appreciation and income generation.
An integral component of the Parnassus Core Select Fund's investment strategy is its environmental, social, and governance (ESG) screening process. This meticulous evaluation ensures that all potential investments align with the fund's dedicated commitment to ethical business practices. By filtering companies through this principled lens, the fund identifies those with exemplary records in sustainability, social responsibility, and governance. This selective approach underscores the fund's role as a beacon for investors seeking to invest in companies that contribute positively to societal wellbeing while pursuing financial gains.