Fund Facts  

Inception Date: Sep 1, 1992
CUSIP: 701769200
Ticker Symbol: PRFIX
Morningstar Category:Intermediate Core-Plus Bond
As of Jun 30, 2021
Fund Net Assets ($millions) $456
Sustainable Investment:Yes

Documents for Fund or Underlying Fund(s)  



The investment seeks a high level of current income consistent with safety and preservation of capital.

Principal Investment Strategies  

The fund normally invests at least 80% of its net assets (plus borrowings for investment purposes) in a diversified portfolio of bonds and other fixed income instruments. It principally invests in corporate bonds, U.S. Treasuries and supranational bonds, with an emphasis on corporate bonds. The fund may also invest in U.S. governmental agencies, commercial and residential mortgage-backed securities and other asset-backed securities. It invests mainly in domestic securities, and to a lesser extent may also invest in U.S. dollar denominated foreign securities.

Principal Investment Risks  

There is no guarantee that the Fund will achieve its investment objective. You may lose money by investing in the Fund. Please see the Fund’s prospectus or other disclosure documents for information about the Fund’s risks.


Performance & Expenses

Standard Performance As of Jun 30, 2021
Fund/Benchmark Name QtrYTD1-Yr3-Yr5-Yr10-YrSince Inception
Parnassus Fixed-Incomea2.52%-1.91%-0.75%5.42%3.04%2.88%4.90%
Bloomberg Barclays U.S. Agg Bond Indexa,b1.83%-1.60%-0.33%5.34%3.03%3.39%N/A
Morningstar Intermediate Core-Plus Bonda,c1.99%-0.61%3.06%5.69%3.75%3.84%N/A

Fund past performance, as shown, is no guarantee of how the Fund will perform in the future. The performance shown has been annualized for periods greater than one year. Investment returns and principal value will fluctuate, so that an investor's shares, when redeemed, may be worth more or less than their original cost. For current performance, participants or plan sponsors in a MissionSquare Retirement administered account can log in at, or institutions can go to

Fund performance is shown comparing it to a "benchmark" which may be a (i) broad-based securities market index (ii) a group of mutual funds with similar investment objectives, or (iii) a short term government backed debt obligation such as a U.S. Treasury Bill. An index is not available for direct investment, is unmanaged, and does not reflect the costs of portfolio management or trading. A fund's portfolio may differ from the securities held in an index.

Fund Expensesa,d
Gross Expenses0.74%
Net Expenses0.68%


a. Certain information including, but not limited to, benchmark performance or other performance and/or fee information, is provided by Morningstar, Inc., © 2021 All rights reserved. This information: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of information. Morningstar is a registered trademark of Morningstar, Inc.

b. The Bloomberg Barclays U.S. Aggregate Bond Index consists of investment-grade U.S. fixed income securities.

c. The Morningstar category average return represents the average return for a category of funds with similar investment objectives and strategies. The average is calculated and funds are assigned to a category by Morningstar.

d. Differences between the net and gross expense ratios of a fund are typically due to fee waivers, expense reimbursements, and/or expense limits.


Dividends and Capital Gains  
Record Date Ex/Payable Date Income/Capital Gains Paid Per Share
Aug 31, 2021Aug 31, 2021$0.025400000
Jul 30, 2021Jul 30, 2021$0.022800000
Jun 30, 2021Jun 30, 2021$0.030100000
May 28, 2021May 28, 2021$0.020800000
Apr 30, 2021Apr 30, 2021$0.021300000
Mar 31, 2021Mar 31, 2021$0.027500000
Feb 26, 2021Feb 26, 2021$0.018100000
Jan 29, 2021Jan 29, 2021$0.017500000
Dec 17, 2020Dec 17, 2020$0.023000000
Nov 30, 2020Nov 30, 2020$0.019700000
Nov 19, 2020Nov 19, 2020$0.096000000
Oct 30, 2020Oct 30, 2020$0.019500000
Sep 30, 2020Sep 30, 2020$0.031400000
Aug 31, 2020Aug 31, 2020$0.021400000
Jul 31, 2020Jul 31, 2020$0.021300000
Jun 30, 2020Jun 30, 2020$0.025200000
May 29, 2020May 29, 2020$0.021400000
Apr 30, 2020Apr 30, 2020$0.024100000

Morningstar Information

Morningstar RatingTM   As of Jun 30, 2021
Period Stars Category Size
Overall 2 Stars550
3-Year 3 Stars550
5-Year 2 Stars478
10-Year 1 Stars341

The Morningstar Rating™ for funds, or “star rating”, is calculated for managed products (including mutual funds, variable annuity and variable life subaccounts, exchange–traded funds, closed–end funds, and separate accounts) with at least a three–year history. Exchange–traded funds and open–ended mutual funds are considered a single population for comparative purposes. It is calculated based on a Morningstar Risk–Adjusted Return measure that accounts for variation in a managed product′s monthly excess performance, placing more emphasis on downward variations and rewarding consistent performance. The top 10% of products in each product category receive 5 stars, the next 22.5% receive 4 stars, the next 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. The Overall Morningstar Rating for a managed product is derived from a weighted average of the performance figures associated with its three–, five–, and 10–year (if applicable) Morningstar Rating metrics. The weights are: 100% three–year rating for 36–59 months of total returns, 60% five–year rating/40% three–year rating for 60–119 months of total returns, and 50% 10–year rating/30% five–year rating/20% three-year rating for 120 or more months of total returns. While the 10-year overall star rating formula seems to give the most weight to the 10-year period, the most recent three-year period actually has the greatest impact because it is included in all three rating periods.

Morningstar Stylebox As of Jun 30, 2021
Fixed Income Stylebox
Medium Moderate
Allocation of Assets As of May 31, 2021
Type of Asset Percent
Fixed Income96%

Due to rounding, percentages shown may not add up to 100%.



Allocation of Assets As of May 31, 2021
Asset ClassPercent
Domestic Stock0.0%
Foreign Stock0.0%
Domestic Bond87.4%
Foreign Bond5.4%

Due to rounding, percentages shown may not add up to 100%.


Credit Quality As of May 31, 2021
Quality LevelPercent
Below B0.0%
Not Rated0.0%

Due to rounding, percentages shown may not add up to 100%. Exposure reflects fixed income securities only.

Top Ten Holdings As of May 31, 2021
Holding NamePercent
International Finance Corporation 2.12%1.5%
OReilly Automotive, Inc. 4.2%1.4%
Teleflex Incorporated 4.25%1.4%
Pentair Finance SA 4.5%1.4%
Booking Holdings Inc 4.62%1.3%
Comcast Corporation 4.25%1.3%
Trimble Inc 4.9%1.3%
Ball Corporation 4.88%1.3%
Agilent Technologies Inc. 2.75%1.3%
MasterCard Incorporated 2.95%1.2%
Fixed Income Sector As of May 31, 2021
Cash & Equivalents4.1%

Exposure reflects fixed income securities only and will sum to the fixed income exposure of the fund.



Duration and Maturity As of May 31, 2021
Average Effective Duration4.35 years
Average Effective Maturity10.08 years
Portfolio Statistics As of Jun 30, 2021
Standard Deviation3.983.51



Please read the fund's prospectus or disclosure materials carefully for a complete summary of all fees, expenses, investment objectives and strategies, risks, financial highlights, and performance information. Investing involves risk, including possible loss of the amount invested. Investors should carefully consider the information contained in the prospectus or disclosure materials before investing. To request a prospectus or disclosure materials, you may contact us by calling 800-669-7400, or log in at

The source for this information is Morningstar, Inc. Copyright © 2021 Morningstar, Inc.™ All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Morningstar, Inc. is a global investment research firm that is not affiliated with MissionSquare Retirement or its affiliates. MissionSquare Retirement does not independently verify Morningstar data.

Morningstar places funds in certain categories based on the fund's historical portfolio holdings. Placement of a fund in a particular Morningstar category does not mean that the fund will remain in that category or that it will invest primarily in securities consistent with its Morningstar category. A fund's investment strategy and portfolio holdings are governed by its prospectus, guidelines or other governing documents, not its Morningstar category.