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Parnassus Mid-Cap: Compelling ESG Fund at a Reasonable Price

With a rigorous ESG process, reasonable costs, and good performance, this fund is one investors should keep their eyes on.

Parnassus Mid-Cap: Compelling ESG Fund at a Reasonable Price
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Wiley Green: It's hard not to notice Parnassus Mid-Cap lately. The managers, Lori Keith and Matthew Gershuny, were hand-picked by firm founder Jerome Dodson to run the fund in 2008. They've demonstrated exceptional stock-picking over the last five years, with a whopping stock selection effect of 14% in excess of the benchmark. It's concentrated, with around 40 holdings, and the team isn't afraid to over or underweight sectors--they've reliably carried a slug of industrials stocks and been light in real estate. But a hot performance record is no reason to invest, and it's reasonable to expect this fund to regress slightly in the future.

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Wiley Green does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.