Parnassus Core Equity PRBLX has held up well in the downturn that began in U.S. markets on Feb. 20, 2020. From then through March 23, the fund's Investor shares dropped 30.1%. While painful, that fared better than the S&P 500's 33.8% decline and placed in the large-blend Morningstar Category's top decile. Stock selection was solid across most sectors, but industrials picks, including Verisk Analytics VRSK and Waste Management WM, especially buoyed relative results, as did healthcare holdings like Gilead Sciences GILD. The fund also benefited from avoiding the plummeting energy sector.
Will PRILX outperform in future?
Get our overall rating based on a fundamental assessment of the pillars below.
The Process Pillar is our assessment of how sensible, clearly defined, and repeatable PRILX’s performance objective and investment process is for both security selection and portfolio construction.
The People Pillar is our evaluation of the PRILX management team’s experience and ability. We find that high-quality management teams deliver superior performance relative to their benchmarks and/or peers.
The Parent Pillar is our rating of PRILX’s parent organization’s priorities and whether they’re in line with investors’ interests.
The Price Pillar compares PRILX’s fees to similar funds, determining whether or not the fund provides a good value proposition.
The Performance Pillar is our evaluation of whether PRILX’s returns have been the result of chance or a proven, long-term process and compares the fund with its category or benchmark.