Parnassus Equity Income Fund Invests $500,000 over 2 Years in MicroVest 1, LP Microfinance Fund and Becomes MicroVest’s First American Mutual Fund Investor

The Parnassus Equity Income Fund has invested a 2 year, $500,000 note subscription in MicroVest 1, LP, a microfinance fund established in 2004. It was founded by three non-profit organisations; CARE, an international non-profit humanitarian organisation; Mennonite Economic Development Associates (MEDA), a US and Canadian Christian business and professional association; and SEED Capital Development Fund, a US non-profit organisation which aims to link MFIs to local and international capital markets.

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