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( DJ ) 05/27 03:00PM =DJ TIP SHEET: Fund Sees Value In Environmentally Friendly Cos By Cassandra Sweet Of DOW JONES NEWSWIRES

SAN FRANCISCO (Dow Jones)--Investors can do well by being green, despite volatility in the markets, says John Segrich, portfolio manager of Gamco Investors Inc.'s (GBL) Gabelli SRI Green Fund. In March, the $3 million, two-year-old fund expanded its focus from mere socially responsible investing to alternative energy and "sustainable" companies, at a time when many renewable energy stocks were still recovering from stock price slides. The key to weathering the storm is ensuring diversity in the portfolio, Segrich says, adding that a growing field of environmentally friendly companies makes this possible. Although many renewable energy companies have been hurt by tight credit markets and volatility in the stock markets, Segrich sees a bright future for companies that make renewable energy and other environmentally friendly products, driven by government incentives, requirements and investments worldwide and growing consumer interest in such products. "Governments are actually competing to drive technology leadership in these new industries," Segrich says. He compares the global drive toward green technologies to the 1960s space race and the 1990s Internet boom. "Whoever wins the race gets to export the technology to everyone else in the world," he says. Among Segrich's favorite stocks are leading solar-panel maker First Solar Inc. (FSLR) of Tempe, Ariz., and EDP Renovaveis SA (EDPR.LB), a renewable energy spinoff of Portugese utility EDP-Energias de Portugal SA (EDPFY). SRI Green Fund was up 20.16% as of Tuesday, year to date, according to Gamco. This compares to the Russell 2000, which was up 4.75% year to date on Wednesday, and the S&P 500, which was up 2.63%. The Gabelli SRI Green Fund looks for companies that address climate change, conservation of natural resources, energy independence and security, urbanization and organic living. The fund invests in wind and solar power technologies, alternative energy generation and utilities, smart grid products, conservation products, and organic and other environmentally

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friendly consumer products. Opportunities to invest in companies that meet the fund's sustainability requirements have taken off since 2007, Segrich says. "Whoever can define themselves as a market leader ... has a significant advantage and opportunity, and those are the companies we're trying to identify ... and invest in," he says.

-By Cassandra Sweet, Dow Jones Newswires; 415-439-6468; cassandra.sweet@dowjones.com

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Funds Sees Value in Environmentally Friendly Companies