Investment Adviser Parnassus Investments 1 Market Street, Suite 1600 San Francisco, CA 94105 Independent Registered Public Accounting Firm Deloitte & Touche LLP 555 Mission Street San Francisco, CA 94105 Legal Counsel Foley & Lardner LLP 777 E. Wisconsin Ave. Milwaukee, WI 53202 Distributor Parnassus Funds Distributor 1 Market Street, Suite 1600 San Francisco, CA 94105 PARNASSUS FUNDS 1 Market Street, Suite 1600 San Francisco, CA 94105 (800) 999-3505 www.parnassus.com Go Paperless with E-Delivery Sign up for electronic delivery of prospectuses, shareholder reports and account statements at www.parnassus.com/gopaperless You can obtain additional information about each of the Funds. A statement of additional information (SAI) dated May 1, 2015, has been filed with the Securities and Exchange Commission (SEC) and is incorporated in this prospectus by reference (namely, it legally forms a part of the prospectus). The Funds also publish an annual and a semiannual report and two quarterly reports each year that discuss the Funds’ holdings and how recent market conditions as well as the Funds’ investment strategies affected performance.

For a free copy of any of these documents or to ask questions about the Funds, call the Parnassus Funds at (800) 999–3505. The Funds make available the SAI and the annual and semiannual reports, free of charge, on their Internet website (http://www. parnassus.com). This information may also be reviewed at the Public Reference Room of the SEC in Washington, D.C. or by visiting the SEC’s Internet website at http://www.sec.gov.

In addition, this information may be obtained for a fee by emailing the Public Reference Room of the SEC at publicinfo@sec.gov or by writing to: Public Reference Room, Securities and Exchange Commission, Washington, DC 20549-1520. You may also call the SEC at (202) 551-8090 for information on the operation of the Public Reference Room. The Investment Company Act File Number for Parnassus Income Funds is 811-6673. The Investment Company Act File Number for Parnassus Funds is 811-4044. Printed on recycled paper with soy-based ink .