The investment objective of the Socially Targeted Investment Portfolio is to achieve both capital appreciation and current income by investing primarily in a diversified portfolio of large-cap equity securities using financial, environmental, social, and governance (ESG) criteria.
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Socially Targeted Investment Portfolio
The Socially Targeted Investment Portfolio invests entirely in the Parnassus Equity Income Fund. In general, Parnassus Investments will choose to invest in companies that it believes will generate attractive risk-adjusted returns over the long term while taking ESG factors into account. The key criteria the investment team looks for in its company-specific investment process are: future relevancy of a company’s products or services, competitive moat, strong management and attractive valuation. The Fund invests principally in undervalued equity securities of large-cap companies. At least 75% of the Parnassus Equity Income Fund’s total assets will be invested in equity securities that pay dividends. The remaining 25% of the Fund’s total assets may be invested in non-dividend paying equity securities. Up to 20% of the Parnassus Equity Income Fund’s total assets can be invested in foreign securities (typically through American Depository receipts).
Average Annual Returns
Updated Monthly as of 01/31/2014
|1 Year||3 Year||5 Year||Since Inception Nov 2009|
|Socially Targeted Investment Benchmark||21.32%||13.73%||N/A||15.83%|
Returns are net of fees.
The Socially Targeted Investment Portfolio’s Benchmark is a custom benchmark reflecting the asset strategic benchmark index component for the underlying investment, and an adjustment reflecting the administrative fee for the Portfolio:
56% CRSP US Total Market / 16% Barclays U.S. Aggregate Float Adjusted / 4% Barclays Global Aggregate ex–USD Float Adjusted RIC Capped / 24% FTSE Global All Cap ex US