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Parnassus Equity Income
The Parnassus fund seeks stocks that pay dividends above the S&P 500's yield. A caveat is that those securities must also support community development. Returns for the 10-year-old fund can swing sharply: It had its highest return, 23.4%, in the fourth quarter of 1998 and it lost 12.6% of its value in the same period of 2002.
Strategy: The most significant portion of the fund's assets are in equity securities and convertible bonds. Generally, 80% of the fund's assets are in dividend-paying securities. The remainder is invested in nondividend-paying securities such as preferred stock.
Investments Include:
Microsoft (MSFT)
Johnson & Johnson (JNJ)
Google (GOOG)
Danaher (DHR)
Performance:
Year to Date: -5.21%
1-year -3.43%
3-year 8.58%
