Parnassus Fixed Income Fund - Institutional Shares
PFPLX
NASDAQ- -
USD
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- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
FRC
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in mil. unless spec.Growth Rates
FRC
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in mil. unless spec.Quarterly Revenue
FRC
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Income
- Address
- One Market #1600 San Francisco CA United States of America 94105
- IPO Date
- Apr 30, 2015
- CIK
- 0000866256
- Similar Companies
- Business
- Parnassus Fixed Income Fund - Institutional Shares (PFPLX) is an open-end mutual fund managed by Parnassus Investments that seeks total return by investing principally in investment-grade fixed-income securities, including corporate bonds, U.S. Treasuries, supranational bonds, mortgage-backed securities, and asset-backed securities; the fund emphasizes environmental, social, and governance (ESG) factors in its security selection process while maintaining a focus on intermediate-term duration and high-quality issuers. It offers Institutional Shares with a minimum initial investment of $100,000, alongside Investor Shares (PRFIX) with a $2,000 minimum, targeting institutional and individual investors seeking responsible fixed-income exposure as a core holding in diversified portfolios. The fund operates within the intermediate core-plus bond category, principally in U.S. dollar-denominated securities, and applies rigorous credit analysis to approximately 60 issuers to mitigate risk while pursuing income and capital appreciation. Parnassus Investments, founded in 1984 and headquartered in San Francisco, California, manages the fund as part of its suite of ESG-focused strategies, with total firm assets under management of $45.6 billion as of December 31, 2024. In a major strategic shift announced in early 2025, Parnassus Investments decided to close and liquidate the Parnassus Fixed Income Fund, including PFPLX Institutional Shares and PRFIX Investor Shares, on April 30, 2025, to specialize exclusively in equity strategies; the fund ceased accepting new purchases after market close on March 14, 2025, and transitioned holdings to U.S. Treasuries and cash equivalents in preparation for liquidation. This decision reflects the fund's lack of commercial viability despite strong performance, such as outperforming the Bloomberg U.S. Aggregate Bond Index in Q4 2024, allowing the firm to reallocate credit analysis resources from co-portfolio managers Samantha Palm and Minh Bui to enhance its equity portfolios. As of December 17, 2025, the fund is in wind-down, with remaining shareholders receiving cash proceeds equivalent to their share values upon final liquidation.