Published on 11 Apr 2024 on GuruFocus.com via Yahoo Finance
Parnassus Value Equity Fund's Strategic Moves: Spotlight on Amdocs Ltd with a -1.7% Impact
Insight into Parnassus Value Equity Fund (Trades, Portfolio)'s Q1 2024 Investment Decisions
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The Parnassus Value Equity Fund (Trades, Portfolio), a segment of Jerome Dodson (Trades, Portfolio)'s Parnassus Investments, is known for its unique investment approach that combines value investing with environmental, social, and governance (ESG) criteria. The fund, which avoids fossil fuels and invests in companies with positive workplace environments, underwent a name change from Parnassus Endeavor Fund to Parnassus Value Equity Fund (Trades, Portfolio) on December 30, 2022. With Billy Hwan at the helm as the portfolio manager since the end of 2020, the fund continues to target deeply discounted U.S. large-cap companies that exhibit long-term competitive advantages, quality management, and strong ESG performance. The fund's strategy aims to outperform the S&P 500 Index by capitalizing on quality stocks at temporarily low prices, accepting a wider range of outcomes in pursuit of value.