Global warming and its effect on climate changes isn't just the topic du jour for cocktail parties. This worldwide theme is making its way into mutual fund strategies. Fund advisors are hoping to get both a warm reception from investors and generate hot investment returns.

Deutsche Asset Management of New York, advisor to the DWS Scudder Funds, is the latest to jump on the changing climate theme. In mid-June, the firm registered to offer four share classes of the DWS Climate Change Fund later this summer or early fall. The fund will invest the majority of its assets in the common stocks of companies whose businesses center around climate changes, although that definition has yet to be formally detailed.

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