Effective May 1, 2004, San Francisco based Parnassus Investments
will drop the sales charge on the Parnassus Fund
, its socially responsible mutual fund. All four of its funds are now no-load funds. The other three funds are the Equity Income, Fixed Income and California Tax-Exempt Funds. None of the funds charge 12-b1 fees. A spokesperson for the company said they dropped the Parnassus Fund load because the fund had grown sufficiently and no longer required it. The fund currently has over $1 billion in assets.
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