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Parnassus Mid Cap Growth Fund - Investor PARNX Fund Analysis

Morningstar Medalist Rating
| Medalist Rating as of | See Parnassus Investment Hub

Morningstar’s Analysis PARNX

Will PARNX outperform in the future?

Get our overall rating based on a fundamental assessment of the pillars below.

  • Process Pillar

    The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PARNX’s performance objective and investment process is for both security selection and portfolio construction.

  • People Pillar

    The People Pillar is our evaluation of the PARNX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.

  • Parent Pillar

    The Parent Pillar is our rating of PARNX’s parent organization’s priorities and whether they’re in line with investors’ interests.

Parnassus Mid Cap Growth Comanager to Depart; Ratings Unchanged

null Stephen Welch

Stephen Welch

Analyst Note

Parnassus announced that Robert Klaber, a comanager on Parnassus Mid Cap Growth, stepped off the fund on June 11 and will depart the firm at the end of the month. Klaber had spent more than 14 years at the firm and had managed the strategy for more than 10 years alongside lead manager Ian Sexsmith. Sexsmith, who has steered the strategy since 2013, remains and provides stability. The firm also added Shivani Vohra as a comanager. Vohra has comanaged Parnassus Growth Equity, the firm’s large-cap growth strategy, since its late 2022 inception, so this mid-growth charge is well within her wheelhouse. While Klaber’s departure on short notice is disappointing, Vohra’s addition, Sexsmith’s leadership, and the broader support of the Parnassus team ensure that the strategy’s resources are still in good shape. Accordingly, the strategy’s Above Average People rating and Morningstar Medalist Ratings remain intact.

by Stephen Welch
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