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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