Parnassus International Equity Fund Institutional Shares NMFQS:PFPEX

The fund’s objective is to achieve capital appreciation by investing primarily in a diversified portfolio of equity securities of non-U.S. companies. Equity securities include common stock, preferred stock, American Depositary Receipts (“ADRs”), American Depositary Shares (“ADSs”), convertible preferred stock, and warrants. Under normal circumstances, the fund will invest a minimum of 80% of its net assets (plus borrowings for investment purposes) in equity securities of non-U.S. companies.