N-CSRS

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D. C. 20549

FORM N-CSRS

Investment Company Act file number 811-04760

DWS Advisor Funds

(Exact Name of Registrant as Specified in Charter)

345 Park Avenue

New York, NY 10154-0004

(Address of principal executive offices)             (Zip code)

Registrant’s Telephone Number, including Area Code: (212) 454-7190

Paul Schubert

345 Park Avenue

New York, NY 10154-0004

(Name and Address of Agent for Service)

Date of fiscal year end: 10/31

Date of reporting period: 04/30/08

ITEM 1.REPORT TO STOCKHOLDERS

APRIL 30, 2008

Semiannual Report
to Shareholders

DWS Short Duration Fund

Contents

click here Performance Summary

click here Information About Your Fund's Expenses

click here Portfolio Management Review

click here Portfolio Summary

click here Investment Portfolio

click here Financial Statements

click here Financial Highlights

click here Notes to Financial Statements

click here Summary of Management Fee Evaluation by Independent Fee Consultant

click here Account Management Resources

click here Privacy Statement

This report must be preceded or accompanied by a prospectus. To obtain a prospectus for any of our funds, refer to the Account Management Resources information provided in the back of this booklet. We advise you to consider the fund's objectives, risks, charges and expenses carefully before investing. The prospectus contains this and other important information about the fund. Please read the prospectus carefully before you invest.

Investments in mutual funds involve risk. Some funds have more risk than others. In the current market environment, mortgage-backed securities are experiencing increased volatility. The fund invests in individual bonds whose yields and market values fluctuate so that your investment may be worth more or less than its original cost. Bond investments are subject to interest rate risk such that when interest rates rise, the prices of the bonds, and thus the value of the bond fund, may decline and the investor may lose principal value. Investors in the fund should be able to withstand fluctuations in the fixed income markets. The yield and value of the fund changes every day and can be affected by changes in interest rates, general market conditions and other political, social and economic developments, as well as specific matters relating to the companies in whose securities a fund invests. All of these factors may result in greater share price volatility. Please read the fund's prospectus for specific details regarding its investments and risk profile.

DWS Scudder is part of Deutsche Asset Management, which is the marketing name in the US for the asset management activities of Deutsche Bank AG, Deutsche Bank Trust Company Americas, Deutsche Investment Management Americas Inc. and DWS Trust Company.

NOT FDIC/NCUA INSURED NO BANK GUARANTEE MAY LOSE VALUE NOT A DEPOSIT NOT INSURED BY ANY FEDERAL GOVERNMENT AGENCY

Performance Summary April 30, 2008

Classes A, B, C and Institutional

All performance shown is historical, assumes reinvestment of all dividend and capital gain distributions, and does not guarantee future results. Investment return and principal value fluctuate with changing market conditions so that, when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Please visit www.dws-scudder.com for the Fund's most recent month-end performance.

The maximum sales charge for Class A shares is 2.75%. For Class B shares, the maximum contingent deferred sales charge (CDSC) is 4% within the first year after purchase, declining to 0% after six years. Class C shares have no front-end sales charge but redemptions within one year of purchase may be subject to a CDSC of 1%. Unadjusted returns do not reflect sales charges and would have been lower if they had. Institutional Class shares are not subject to sales charges.

The total annual fund operating expense ratios, gross of any fee waivers or expense reimbursements, as stated in the fee table of the prospectus dated March 1, 2008 are 1.14%, 1.90%, 1.87% and 0.82% for Class A, Class B, Class C and Institutional Class shares, respectively. Please see the Information About Your Fund's Expenses, the Financial Highlights and Notes to the Financial Statements (Note C, Related Parties) sections of this report for gross and net expense related disclosure for the period ended April 30, 2008.

To discourage short-term trading, the Fund imposes a 2% redemption fee on shareholders redeeming shares held less than 15 days, which has the effect of lowering total return and rankings.

Returns and rankings during all periods shown reflect a fee waiver and/or expense reimbursement. Without this waiver/reimbursement, returns and rankings would have been lower.

Performance figures do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Returns and rankings may differ by share class.

On August 21, 2006, the fund was reorganized from DWS Short Duration Fund, a series of DWS Investments Trust (the "Predecessor Fund"), into DWS Short Duration Fund, a newly created series of the DWS Advisor Funds. This change in the legal entity had no economic impact relative to accounting or tax. Performance shown prior to August 21, 2006 is derived from the historical performance of the Predecessor Fund.

Returns shown for Class A, B and C shares for the periods prior to their inception on February 28, 2003 are derived from the historical performance of Institutional Class shares of DWS Short Duration Fund during such periods and have been adjusted to reflect the higher total annual operating expenses of each specific class. Any difference in expenses will affect performance.

Average Annual Total Returns (Unadjusted for Sales Charge) as of 4/30/08
DWS Short Duration Fund	6-Month‡	1-Year	3-Year	5-Year	10-Year
Class A	.49%	2.33%	3.40%	2.83%	4.32%
Class B	.10%	1.52%	2.69%	2.16%	3.59%
Class C	.10%	1.52%	2.69%	2.13%	3.58%
Institutional Class	.60%	2.54%	3.52%	2.92%	4.49%
Merrill Lynch 1-3 Year US Treasury Index+	4.21%	7.76%	4.94%	3.41%	4.78%
Blended Index++	4.21%	7.75%	4.94%	3.41%	3.94%

Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.

^‡ Total returns shown for periods less than one year are not annualized.

Net Asset Value and Distribution Information
	Class A	Class B	Class C	Institutional Class
Net Asset Value: 4/30/08	$ 9.74	$ 9.74	$ 9.73	$ 9.75
10/31/07	$ 9.91	$ 9.91	$ 9.90	$ 9.92
Distribution Information: Six Months as of 4/30/08: Income Dividends	$ .22	$ .18	$ .18	$ .23
April Income Dividend	$ .0300	$ .0232	$ .0232	$ .0312
SEC 30-day Yield as of 4/30/08+++	3.32%	2.80%	2.80%	3.79%
Current Annualized Distribution Rate as of 4/30/08+++	3.76%	2.91%	2.91%	3.90%

⁺⁺⁺ The SEC yield is net investment income per share earned over the month ended April 30, 2008, shown as an annualized percentage of the maximum offering price per share on the last day of the period. The SEC yield is computed in accordance with a standardized method prescribed by the Securities and Exchange Commission. The SEC yields would have been 3.26% and 2.76% for Class A and B respectively, had certain expenses not been reduced. Current annualized distribution rate is the latest monthly dividend shown as an annualized percentage of net asset value on April 30, 2008. Distribution rate simply measures the level of dividends and is not a complete measure of performance. The current annualized distribution rates would have been 3.70% and 2.87% for Class A and B respectively, had certain expenses not been reduced. Yields and distribution rates are historical, not guaranteed, and will fluctuate.

Institutional Class Lipper Rankings — Short Investment Grade Debt Funds Category as of 4/30/08
Period	Rank		Number of Funds Tracked	Percentile Ranking (%)
1-Year	148	of	262	57
3-Year	95	of	211	45
5-Year	57	of	160	35
10-Year	20	of	84	24

Source: Lipper Inc. Rankings are historical and do not guarantee future results. Rankings are based on total return with distributions reinvested. Rankings are for Institutional Class shares; other share classes may vary.

Growth of an Assumed $10,000 Investment (Adjusted for Maximum Sales Charge)

[] DWS Short Duration Fund — Class A

[] Merrill Lynch 1-3 Year US Treasury Index⁺

[] Blended Index⁺⁺

Yearly periods ended April 30

The Fund's growth of an assumed $10,000 investment is adjusted for the maximum sales charge of 2.75%. This results in a net initial investment of $9,725.

Comparative Results (Adjusted for Maximum Sales Charge) as of 4/30/08
DWS Short Duration Fund		1-Year	3-Year	5-Year	10-Year
Class A	Growth of $10,000	$9,951	$10,752	$11,184	$14,844
	Average annual total return	-.49%	2.45%	2.26%	4.03%
Class B	Growth of $10,000	$9,858	$10,632	$11,029	$14,225
	Average annual total return	-1.42%	2.06%	1.98%	3.59%
Class C	Growth of $10,000	$10,152	$10,828	$11,114	$14,210
	Average annual total return	1.52%	2.69%	2.13%	3.58%
Merrill Lynch 1-3 Year US Treasury Index+	Growth of $10,000	$10,776	$11,556	$11,825	$15,945
	Average annual total return	7.76%	4.94%	3.41%	4.78%
Blended Index++	Growth of $10,000	$10,775	$11,556	$11,825	$14,714
	Average annual total return	7.75%	4.94%	3.41%	3.94%

The growth of $10,000 is cumulative.

Growth of an Assumed $1,000,000 Investment

[] DWS Short Duration Fund — Institutional Class

[] Merrill Lynch 1-3 Year US Treasury Index⁺

[] Blended Index⁺⁺

Yearly periods ended April 30

Comparative Results as of 4/30/08
DWS Short Duration Fund		1-Year	3-Year	5-Year	10-Year
Institutional Class	Growth of $1,000,000	$1,025,400	$1,109,500	$1,154,700	$1,551,700
	Average annual total return	2.54%	3.52%	2.92%	4.49%
Merrill Lynch 1-3 Year US Treasury Index+	Growth of $1,000,000	$1,077,600	$1,155,600	$1,182,500	$1,594,500
	Average annual total return	7.76%	4.94%	3.41%	4.78%
Blended Index++	Growth of $1,000,000	$1,077,500	$1,155,600	$1,182,500	$1,471,400
	Average annual total return	7.75%	4.94%	3.41%	3.94%

The growth of $1,000,000 is cumulative.

The minimum initial investment for Institutional Class shares is $1,000,000.

⁺ Merrill Lynch 1-3 Year US Treasury Index is an unmanaged index of US Treasury obligations having maturities ranging from 1 to 2.99 years.
⁺⁺ The Blended Index consists of the returns for the Lehman Brothers Short Treasury Index (the Fund's former benchmark) from the Fund's inception to February 28, 2003 and the Merrill Lynch 1-3 Year US Treasury Index from March 31, 2003 to the report date. The advisor believes this blended benchmark more accurately reflects the Fund's historical performance. The Lehman Brothers Short Treasury Index tracks public obligations of the US Treasury including bills, notes, bonds and coupons, with remaining maturities of one year or less.
Index returns unlike Fund returns, do not reflect any fees or expenses. It is not possible to invest directly into an index.

Class S

Class S shares are generally not available to new investors except under certain circumstances. (Please refer to the Fund's Statement of Additional Information.)

All performance shown is historical, assumes reinvestment of all dividend and capital gain distributions, and does not guarantee future results. Investment return and principal value fluctuate with changing market conditions so that, when redeemed, shares may be worth more or less than their original cost. Current performance may be lower or higher than the performance quoted. Please visit www.dws-scudder.com for the Fund's most recent month-end performance.

The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, as stated in the fee table of the prospectus dated March 1, 2008 is 1.15% for Class S shares. Please see the Information About Your Fund's Expenses, the Financial Highlights and Notes to the Financial Statements (Note C, Related Parties) sections of this report for gross and net expense related disclosure for the period ended April 30, 2008.

To discourage short-term trading, the Fund imposes a 2% redemption fee on shareholders redeeming shares held less than 15 days, which has the effect of lowering total return and rankings.

Returns and rankings during all periods shown reflect a fee waiver and/or expense reimbursement. Without this waiver/reimbursement, returns and rankings would have been lower.

Performance figures do not reflect the deduction of taxes that a shareholder would pay on fund distributions or the redemption of fund shares. Return and rankings may differ by share class.

On August 21, 2006, the fund was reorganized from DWS Short Duration Fund, a series of DWS Investments Trust (the "Predecessor Fund"), into DWS Short Duration Fund, a newly created series of the DWS Advisor Funds. This change in the legal entity had no economic impact relative to accounting or tax. Performance shown prior to August 21, 2006 is derived from the historical performance of the Predecessor Fund.

Returns shown for Class S shares for the periods prior to its inception on February 1, 2005 are derived from the historical performance of Institutional Class shares of DWS Short Duration Fund during such periods and have been adjusted to reflect the higher total annual operating expenses of Class S. Any difference in expenses will affect performance.

Average Annual Total Returns as of 4/30/08
DWS Short Duration Fund	6-Month‡	1-Year	3-Year	5-Year	10-Year
Class S	.60%	2.58%	3.43%	2.81%	4.34%
Merrill Lynch 1-3 Year US Treasury Index+	4.21%	7.76%	4.94%	3.41%	4.78%
Blended Index++	4.21%	7.75%	4.94%	3.41%	3.94%

Sources: Lipper Inc. and Deutsche Investment Management Americas Inc.

^‡ Total returns shown for periods less than one year are not annualized.

Net Asset Value and Distribution Information
	Class S
Net Asset Value: 4/30/08	$ 9.74
10/31/07	$ 9.91
Distribution Information: Six Months as of 4/30/08: Income Dividends	$ .23
April Income Dividend	$ .0311
SEC 30-day Yield as of 4/30/08+++	3.79%
Current Annualized Distribution Rate as of 4/30/08+++	3.90%

⁺⁺⁺ The SEC yield is net investment income per share earned over the month ended April 30, 2008, shown as an annualized percentage of the maximum offering price per share on the last day of the period. The SEC yield is computed in accordance with a standardized method prescribed by the Securities and Exchange Commission. The SEC yield would have been 1.97% for Class S had certain expenses not been reduced. Current annualized distribution rate is the latest monthly dividend shown as an annualized percentage of net asset value on April 30, 2008. Distribution rate simply measures the level of dividends and is not a complete measure of performance. The current annualized distribution rate would have been 2.08% for Class S had certain expenses not been reduced. Yields and distribution rates are historical, not guaranteed, and will fluctuate.

Class S Lipper Rankings — Short Investment Grade Debt Funds Category as of 4/30/08
Period	Rank		Number of Funds Tracked	Percentile Ranking (%)
1-Year	147	of	262	56
3-Year	101	of	211	48

Source: Lipper Inc. Rankings are historical and do not guarantee future results. Rankings are based on total return with distributions reinvested. Rankings are for Class S shares; other share classes may vary.

Growth of an Assumed $10,000 Investment

[] DWS Short Duration Fund — Class S

[] Merrill Lynch 1-3 Year US Treasury Index⁺

[] Blended Index⁺⁺

Yearly periods ended April 30

Comparative Results as of 4/30/08
DWS Short Duration Fund		1-Year	3-Year	5-Year	10-Year
Class S	Growth of $10,000	$10,258	$11,065	$11,485	$15,289
	Average annual total return	2.58%	3.43%	2.81%	4.34%
Merrill Lynch 1-3 Year US Treasury Index+	Growth of $10,000	$10,776	$11,556	$11,825	$15,945
	Average annual total return	7.76%	4.94%	3.41%	4.78%
Blended Index++	Growth of $10,000	$10,775	$11,556	$11,825	$14,714
	Average annual total return	7.75%	4.94%	3.41%	3.94%

The growth of $10,000 is cumulative.

⁺ Merrill Lynch 1-3 Year US Treasury Index is an unmanaged index of US Treasury obligations having maturities ranging from 1 to 2.99 years.
⁺⁺ The Blended Index consists of the returns for the Lehman Brothers Short Treasury Index (the Fund's former benchmark) from the Fund's inception to February 28, 2003 and the Merrill Lynch 1-3 Year US Treasury Index from March 31, 2003 to the report date. The advisor believes this blended benchmark more accurately reflects the Fund's historical performance. The Lehman Brothers Short Treasury Index tracks public obligations of the US Treasury including bills, notes, bonds and coupons, with remaining maturities of one year or less.
Index returns, unlike Fund returns, do not reflect any fees or expenses. It is not possible to invest directly into an index.

Information About Your Fund's Expenses

As an investor of the Fund, you incur two types of costs: ongoing expenses and transaction costs. Ongoing expenses include management fees, distribution and service (12b-1) fees and other Fund expenses. Examples of transaction costs include sales charges (loads), redemption fees and account maintenance fees, which are not shown in this section. The following tables are intended to help you understand your ongoing expenses (in dollars) of investing in each Fund and to help you compare these expenses with the ongoing expenses of investing in other mutual funds. In the most recent six-month period, the Fund limited these expenses; had it not done so, expenses would have been higher. The example in the table is based on an investment of $1,000 invested at the beginning of the six-month period and held for the entire period (November 1, 2007 to April 30, 2008).

The tables illustrate your Fund's expenses in two ways:

• Actual Fund Return. This helps you estimate the actual dollar amount of ongoing expenses (but not transaction costs) paid on a $1,000 investment in the Fund using the Fund's actual return during the period. To estimate the expenses you paid over the period, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number in the "Expenses Paid per $1,000" line under the share class you hold.

• Hypothetical 5% Fund Return. This helps you to compare your Fund's ongoing expenses (but not transaction costs) with those of other mutual funds using the Fund's actual expense ratio and a hypothetical rate of return of 5% per year before expenses. Examples using a 5% hypothetical fund return may be found in the shareholder reports of other mutual funds. The hypothetical account values and expenses may not be used to estimate the actual ending account balance or expenses you paid for the period.

Please note that the expenses shown in these tables are meant to highlight your ongoing expenses only and do not reflect any transaction costs. The "Expenses Paid per $1,000" line of the tables is useful in comparing ongoing expenses only and will not help you determine the relative total expense of owning different funds. An account maintenance fee of $6.25 per quarter for Class S shares may apply for certain accounts whose balances do not meet the applicable minimum initial investment. This fee is not included in these tables. If it was, the estimate of expenses paid for Class S shares during the period would be higher, and account value during the period would be lower, by this amount.

Expenses and Value of a $1,000 Investment for the six months ended April 30, 2008
Actual Fund Return	Class A	Class B	Class C	Class S	Institutional Class
Beginning Account Value 11/1/07	$ 1,000.00	$ 1,000.00	$ 1,000.00	$ 1,000.00	$ 1,000.00
Ending Account Value 4/30/08	$ 1,004.90	$ 1,001.00	$ 1,001.00	$ 1,006.00	$ 1,006.00
Expenses Paid per $1,000*	$ 3.49	$ 7.21	$ 7.21	$ 2.24	$ 2.24
Hypothetical 5% Fund Return	Class A	Class B	Class C	Class S	Institutional Class
Beginning Account Value 11/1/07	$ 1,000.00	$ 1,000.00	$ 1,000.00	$ 1,000.00	$ 1,000.00
Ending Account Value 4/30/08	$ 1,021.38	$ 1,017.65	$ 1,017.65	$ 1,022.63	$ 1,022.63
Expenses Paid per $1,000*	$ 3.52	$ 7.27	$ 7.27	$ 2.26	$ 2.26

* Expenses are equal to the Fund's annualized expense ratio for each share class, multiplied by the average account value over the period, multiplied by the number of days in the most recent six-month period, then divided by 366.

Annualized Expense Ratios	Class A	Class B	Class C	Class S	Institutional Class
DWS Short Duration Fund	.70%	1.45%	1.45%	.45%	.45%

For more information, please refer to the Fund's prospectus.

Portfolio Management Review

In the following interview, the portfolio management team discusses market conditions and DWS Short Duration Fund's investment strategy during the six-month period ended April 30, 2008.

The views expressed in the following discussion reflect those of the portfolio manager only through the end of the period of the report as stated on the cover. The management team's views are subject to change at any time based on market and other conditions and should not be construed as a recommendation. Past performance is no guarantee of future results.

Q: How did the bond market perform?

A: The six months ended April 30, 2008 were tumultuous for fixed-income markets. What began as concern over subprime mortgages triggered a market contagion, and yield spread widenings, to which no non-Treasury sector of the fixed-income market was exempt.¹ The ensuing liquidity drain led to a technical imbalance and a flight to quality that caused all of the spread sectors (non-Treasury) of the bond market to dramatically underperform Treasuries during the period.² For its part, the US Federal Reserve Board (the Fed) took steps in an attempt to restore liquidity to the markets, easing the federal funds rate (the overnight rate banks charge when they borrow money from each other) a total of 250 basis points (most of it late in the period), arranging the sale of Bear Stearns to JP Morgan and extending liquidity to Wall Street dealers (not just banks).³ Indeed, there was a strong improvement in the performance of the spread sectors of the bond market in April. We believe that this has been driven by liquidity and fundamentals. In terms of liquidity, deleveraging pressure has abated significantly, and dealers to some extent are making markets again. The market has gone from not enough real money to absorb the deleveraging to an environment where securities are beginning to find buyers led by the strongest sectors — agency Mortgage-Backed Securities (MBS), AAA-rated Commercial Mortgage-Backed Securities (CMBS), and many liquid corporate bonds.⁴

¹ The yield spread is the difference between the yield of a security and the yield of a comparable duration Treasury. A large spread indicates that investors require yields substantially above those of Treasuries in order to invest in lower quality bonds. This is generally indicative of a higher-risk environment. A smaller spread generally indicates a more positive environment, since investors are less concerned about risk and therefore willing to accept lower yields. A drop in the yield spread is a positive.
² "Spread sectors" are non-Treasury bond sectors of the fixed-income market.
³ One basis point equals .01%.
⁴ Credit quality is a measure of a bond issuer's ability to repay interest and principal in a timely manner. Rating agencies assign letter designations such as AAA, AA and so forth. The lower the rating, the higher the probability of default.

In this context, the fund's benchmark, the Merrill Lynch 1-3 Year US Treasury Index, returned 4.21% for the six months ended April 30, 2008.⁵ The broader short-term market, as represented by the Lehman Brothers 1-3 Year Aggregate Bond Index, returned 3.79%.⁶ Given the flight to quality engendered by the current credit bubble deflation, Treasuries have led all sectors in returns for the six-month period. The flight to quality bid has driven two- and five- year US Treasury yields lower, steepening the US Treasury yield curve and widening two- and five-year swap spreads.^7,8 This swap spread movement only exacerbated the otherwise severe spread widening experienced in all spread sectors that trade with high correlation to swaps, especially Asset-Backed Securities (ABS), MBS, CMBS and Financials.

⁵ The Merrill Lynch 1-3 Year US Treasury Index is an unmanaged index of US Treasury obligations having maturities ranging from 1 to 2.99 years.

Q: How did the fund perform?

A: DWS Short Duration Fund's Class A shares returned 0.49% for the period ending April 30, 2008. (Returns are unadjusted for sales charges. If sales charges had been included, returns would have been lower. Past performance is no guarantee of future results. Please see pages 4 through 10 for the performance of other share classes and more complete performance information.) This compares with -0.07% for the average fund in the Lipper Short Investment Grade Debt Funds category and 4.21% for the Merrill Lynch 1-3 Year US Treasury Index, the fund's benchmark.⁹

⁶ The Lehman Brothers 1-3 Year Aggregate Bond Index is an unmanaged index representing domestic taxable investment-grade bonds, including government and corporate securities, mortgage pass-through securities and asset-backed securities with average maturities of one to three years. Index returns, unlike fund returns, do not reflect any fees or expenses. It is not possible to invest directly into an index.
⁷ The yield curve is a graph with a left-to-right line that shows how high or low yields are, from the shortest to the longest maturities. Typically the line rises from left to right as investors who are willing to tie up their money for a longer period are rewarded with higher yields. When the yield curve is characterized as "steep," this is especially true.
⁸ A swap is the exchange of one security for another to change the maturity (bonds), quality of issues (stocks or bonds), or because investment objectives have changed. A swap spread is the difference between the negotiated and fixed rate of a swap. The spread is determined by characteristics of market supply and creditor worthiness.
⁹ The Lipper Short Investment Grade Debt Funds category consist of funds that invest primarily in investment-grade debt issues (rated in the top four grades) with dollar-weighted average maturities of less than three years. Lipper figures represent the average of the total returns reported by all of the mutual funds designated by Lipper Inc. as falling into this category. Category returns assume reinvestment of dividends. It is not possible to invest directly in a Lipper category.

Q: What factors contributed to the fund's performance?

A: Throughout this period, we have remained true to our relative valuation process, rather than attempt to time a full-scale exit and re-entry. We believe that this steadfastness to process can be rewarded over time, despite the resulting short-term performance volatility.

The residential MBS component of the Lehman Brothers 1-3 Year Aggregate Bond Index is comprised of Agency securities, which benefited from the flight to quality and slightly outperformed duration-neutral Treasuries by 0.20%, due in large part to the April rebound.¹⁰ A large off-index allocation to non-Agency prime AAA-rated hybrid Adjustable-Rate Mortgages (ARMs), which the fund holds in lieu of Agency MBS and Treasuries, significantly underperformed due to the illiquidity and credit quality concerns.¹¹ This exposure had a large negative impact on results. However, we insisted on buying only super-senior AAA bonds (a subset of the AAA class) that have twice the credit enhancement of the standard AAA-rated bonds. In hindsight, that risk management decision was a prescient one. After rigorous stress testing of the fund's portfolio of prime hybrid ARMs, we remain confident that these super-senior AAA bonds have the capacity to survive even a potentially severe prime mortgage default experience over the next few years. We expect more mark-to-market volatility from this position, as the broader market comes to grips with the uncharacteristic default cycle in prime mortgages.¹² We remain committed to holding our portfolio of high-quality securities while opportunistically evaluating other market participants' forced sales.

¹⁰ Duration is a measure of bond price volatility.
¹¹ A hybrid ARM (adjustable rate mortgage) features an interest rate that is fixed for an initial period of time, then floats thereafter. The "hybrid" refers to the ARM's blend of fixed-rate and adjustable-rate characteristics.
¹² Mark-to-market is the act of assigning a value to a position held in a financial instrument based on the current market price for that instrument or similar instruments.

ABS were also a primary driver of underperformance. The ABS portfolio is essentially equal-weighted in Autos and Home Equity Loans. Our approach to Home Equity Loan ABS has been well documented over recent periods — and applies to Autos, as well. Namely, we constructed the fund's portfolio conservatively with mostly short duration, high-quality issues. Nevertheless, with liquidity drained from the short-term spread markets and ongoing rating pressure at the monoline insurers, all bonds traded significantly wider irrespective of rating, duration or loss exposure.¹³ To that end we believe these bonds. short-term volatility aside, will be of benefit to the portfolio.

¹³ Monoline insurers (also referred to as "monoline insurance companies" or simply "monolines") guarantee the timely repayment of bond principal and interest when an issuer defaults. They are so named because they provide services to only one industry.

Corporate hybrid capital securities' credit spreads have widened precipitously in the first quarter of 2008, owing largely to the stress on financials' capital position.¹⁴ As each newly capital-starved institution comes to market, the cost of that capital goes up, widening the existing securities' spreads and driving their call-date economics more and more out of the money (meaning the cost of that capital goes up, making it less likely that existing securities will be retired on their callable date.) Thus, durations have extended while spreads have widened, exacerbating the negative price volatility. Our credit view on financials has evolved rapidly downward over the past year. As a consequence, we have been actively reducing the fund's position in these securities throughout the period. In some cases we have moved up the capital structure in the same credit to effect the reduction in risk. In others, we have sold outright or swapped into high-quality industrials at historically attractive valuations. Nevertheless, these securities have detracted from performance during the period.

¹⁴ Hybrid capital securities are a class of financial instruments that have characteristics of both debt and equity securities.

We hope the fund can recoup recent underperformace over time as we look to take advantage of relative return opportunities in the current environment and as prices evolve to more appropriately reflect fundamentals. While it is not possible to predict how quickly this may occur, we believe relative performance should be cushioned in the interim from a large yield advantage relative to the benchmark. Rather than succumb to the inertia of waiting for the crisis to abate, we are actively reevaluating existing holdings against various new opportunities, and slowly repositioning portions of the portfolio to potentially benefit most from the ultimate recovery.

Portfolio Summary

Asset Allocation (As a % of Investment Portfolio excluding Securities Lending Collateral)	4/30/08	10/31/07
Government & Agency Obligations	45%	22%
Commercial and Non-Agency Mortgage-Backed Securities	23%	39%
Asset Backed	14%	18%
Corporate Bonds	7%	11%
Cash Equivalents	6%	1%
Preferred Securities	2%	4%
Collateralized Mortgage Obligations	2%	3%
Mortgage-Backed Securities Pass-Throughs	1%	1%
Municipal Bonds and Notes	—	1%
	100%	100%

Quality (Excludes Securities Lending Collateral)	4/30/08	10/31/07
US Government and Agencies	48%	26%
AAA*	40%	56%
AA	1%	1%
A	3%	4%
BBB	8%	12%
Below BBB	—	1%
	100%	100%

^* Includes cash equivalents

Asset allocation and quality are subject to change.

The quality ratings represent the lower of Moody's Investors Service, Inc. ("Moody's") or Standard & Poor's Corporation ("S&P") credit ratings. The ratings of Moody's and S&P represent their opinions as to the quality of the securities they rate. Ratings are relative and subjective and are not absolute standards of quality. The Fund's credit quality does not remove market risk.

Effective Maturity	4/30/08	10/31/07
Under 1 year	20%	25%
1-2.99 years	57%	59%
3-4.99 years	22%	14%
5-9.99 years	1%	2%
	100%	100%

Weighted average effective maturity: 1.8 years and 2.0 years, respectively.

Effective maturity is subject to change.

For more complete details about the Fund's investment portfolio, see page 19. A quarterly Fact Sheet is available upon request. Information concerning portfolio holdings of the Fund as of month end will be posted to www.dws-scudder.com on or after the last day of the following month. Please see the Account Management Resources section for contact information.

Following the Fund's fiscal first and third quarter-end, a complete portfolio holdings listing is filed with the SEC on Form N-Q. This form will be available on the SEC's Web site at www.sec.gov, and it also may be reviewed and copied at the SEC's Public Reference Room in Washington, D.C. Information on the operation of the SEC's Public Reference Room may be obtained by calling (800) SEC-0330.

Investment Portfolio as of April 30, 2008 (Unaudited)

	Principal Amount ($)	Value ($)
Corporate Bonds 6.9%
Consumer Discretionary 2.2%
Comcast Cable Communications LLC, 6.875%, 6/15/2009	1,295,000	1,328,539
Time Warner Cable, Inc., 5.4%, 7/2/2012	2,243,000	2,256,086
Viacom, Inc., 5.75%, 4/30/2011	1,185,000	1,198,237
		4,782,862
Consumer Staples 1.0%
CVS Caremark Corp., 3.376%*, 6/1/2010	2,252,000	2,185,685
Energy 0.0%
Enterprise Products Operating LP, 7.5%, 2/1/2011	80,000	84,743
Financials 1.4%
American General Finance Corp., Series H, 4.625%, 9/1/2010	625,000	611,115
Discover Financial Services, 3.431%*, 6/11/2010	560,000	558,532
Erac USA Finance Co., 144A, 5.8%, 10/15/2012	1,275,000	1,215,748
Xstrata Finance Canada Ltd., 144A, 5.5%, 11/16/2011	613,000	622,994
		3,008,389
Information Technology 0.2%
Tyco Electronics Group SA, 144A, 6.0%, 10/1/2012	305,000	310,996
Telecommunication Services 1.3%
British Telecommunications PLC, 8.625%, 12/15/2010	1,239,000	1,348,384
Telecom Italia Capital, 6.2%, 7/18/2011	1,432,000	1,442,558
		2,790,942
Utilities 0.8%
Commonwealth Edison Co., Series 98, 6.15%, 3/15/2012	140,000	145,132
Dominion Resources, Inc., Series 06-B, 6.3%, 9/30/2066	1,600,000	1,462,936
		1,608,068
Total Corporate Bonds (Cost $14,979,772)		14,771,685
Asset Backed 14.6%
Automobile Receivables 9.5%
AmeriCredit Automobile Receivables Trust:
"A4", Series 2004-DF, 3.43%, 7/6/2011	354,806	352,406
"A2", Series 2006-RM, 5.42%, 8/8/2011	1,210,000	1,187,473
"A2", Series 2007-CM, 5.43%, 11/8/2010	1,489,750	1,485,865
"A3A", Series 2007-DF, 5.49%, 7/6/2012	550,000	555,971
AmeriCredit Prime Automobile Receivables Trust:
"A3", Series 2007-2M, 5.22%, 6/8/2012	1,925,000	1,813,394
"A2A", Series 2007-2M, 5.34%, 11/8/2010	1,425,000	1,404,616
Credit Acceptance Auto Dealer Loan Trust, "A1A", Series 2007-2, 144A, 6.16%, 4/15/2013	2,550,000	2,413,422
Drive Auto Receivables Trust:
"A2", Series 2006-2, 144A, 5.3%, 7/15/2011	735,260	731,034
"A3", Series 2006-1, 144A, 5.49%, 5/15/2011	592,139	593,453
Household Automotive Trust, "A4", Series 2005-3, 4.94%, 11/19/2012	1,040,000	1,042,228
Hyundai Auto Receivables Trust, "D", Series 2006-A, 5.52%, 11/15/2012	556,158	553,507
LAI Vehicle Lease Securitization Trust, "A", Series 2005-A, 144A, 4.56%, 11/15/2012	300,066	301,395
Long Beach Auto Receivables Trust, "A3", Series 2006-B, 5.17%, 8/15/2011	881,400	882,235
Triad Auto Receivables Owner Trust, "A2", Series 2007-A, 5.35%, 3/14/2011	745,323	745,394
Wachovia Auto Loan Owner Trust:
"A4", Series 2005-A, 4.23%, 11/21/2011	1,275,000	1,279,584
"A3", Series 2006-2A, 144A, 5.23%, 8/22/2011	2,150,000	2,162,878
"A4", Series 2006-A, 5.38%, 3/20/2013	1,635,000	1,613,119
WFS Financial Owner Trust:
"D", Series 2005-1, 4.09%, 8/17/2012	399,617	399,151
"D", Series 2005-3, 4.76%, 5/17/2013	710,000	666,663
		20,183,788
Home Equity Loans 4.4%
Bayview Financial Acquistion Trust, "1A1", Series 2006-C, 6.035%, 11/28/2036	498,179	480,899
Carrington Mortgage Loan Trust, "A1", Series 2006-NC4, 2.945%*, 10/25/2036	552,067	543,861
Centex Home Equity, "AV2", Series 2005-D, 3.165%*, 10/25/2035	155,441	139,797
Chase Funding Mortgage Loan Asset-Backed Certificates, "1A3", Series 2003-6, 3.34%, 5/25/2026	181,773	181,077
Citifinancial Mortgage Securities, Inc., "AF2", Series 2004-1, 2.645%, 4/25/2034	289,901	286,291
Countrywide Asset-Backed Certificates:
"2A3", Series 2005-12, 5.069%, 2/25/2036	652,154	641,243
"A1B", Series 2007-S1, 5.888%, 11/25/2036	724,149	689,749
Credit-Based Asset Servicing and Securitization LLC:
"A4", Series 2004-CB4, 5.497%, 5/25/2035	40,055	39,674
"A2A", Series 2007-CB2, 5.891%, 2/25/2037	820,929	810,501
First Franklin Mortgage Loan Asset Backed Certificate, "2A2", Series 2005-FFH4, 3.085%*, 12/25/2035	464,071	459,702
Household Home Equity Loan Trust:
"A2F", Series 2006-4, 5.32%, 3/20/2036	590,000	557,886
"A1F", Series 2006-4, 5.79%, 3/20/2036	211,102	207,976
"A1F", Series 2006-3, 5.98%, 3/20/2036	347,873	343,599
JPMorgan Mortgage Acquisition Corp., "AF1B", Series 2007-CH1, 5.935%, 11/25/2036	1,146,475	1,138,190
New Century Home Equity Loan Trust, "A2", Series 2005-A, 4.461%, 8/25/2035	93,163	92,372
Renaissance Home Equity Loan Trust:
"AF3", Series 2005-2, 4.499%, 8/25/2035	828,024	824,288
"AF2", Series 2005-3, 4.723%, 11/25/2035	9,175	9,149
"AF1", Series 2006-4, 5.545%, 1/25/2037	352,067	348,959
"AF2", Series 2006-3, 5.58%, 11/25/2036	660,000	647,937
"AF1", Series 2007-2, 5.893%, 6/25/2037	748,732	744,475
"AF1", Series 2006-3, 5.917%, 11/25/2036	48,833	48,627
Residential Asset Securities Corp., "AI3", Series 2004-KS9, 3.79%, 8/25/2029	43,535	42,664
Securitized Asset Backed NIM Trust, "NIM", Series 2005-FR4, 144A, 6.0%, 1/25/2036 (e)	209,756	783
Southern Pacific Secured Assets Corp., "A8", Series 1998-2, 6.37%, 7/25/2029	88,166	82,836
		9,362,535
Miscellaneous 0.7%
Caterpillar Financial Asset Trust, "A2A", Series 2008-A, 4.09%, 12/27/2010	1,590,000	1,589,910
Total Asset Backed (Cost $31,691,941)		31,136,233
Mortgage-Backed Securities Pass-Throughs 1.1%
Federal Home Loan Mortgage Corp.:
5.5%, 3/1/2010	140,497	142,687
6.0%, with various maturities from 10/1/2008 until 11/1/2009	64,180	64,940
7.0%, 3/1/2013	61,237	62,873
Federal National Mortgage Association:
6.0%, with various maturities from 6/1/2009 until 2/1/2010	110,649	111,769
7.0%, 4/1/2038	674,485	710,264
8.5%, 10/1/2010	883	885
Government National Mortgage Association, 6.5%, 8/20/2034	1,105,146	1,154,662
Total Mortgage-Backed Securities Pass-Throughs (Cost $2,265,594)		2,248,080
Commercial and Non-Agency Mortgage-Backed Securities 23.0%
ABN AMRO Mortgage Corp., "A5", Series 2003-4, 4.75%, 3/25/2033	160,259	160,523
American Home Mortgage Investment Trust, "5A3", Series 2005-2, 5.077%, 9/25/2035	770,000	726,939
Banc of America Mortgage Securities:
"2A2", Series 2003-1, 5.25%, 2/25/2018	321,892	328,605
"1A1", Series 2004-G, 6.099%*, 8/25/2034	471,667	454,201
Bear Stearns Adjustable Rate Mortgage Trust, "A1", Series 2006-1, 4.625%*, 2/25/2036	471,075	448,957
Bear Stearns Alternative-A Trust, "6A1", Series 2004-9, 6.768%*, 9/25/2034	260,666	159,650
Cendant Mortgage Corp.:
"1A1", Series 2003-9, 5.25%, 11/25/2033	521,686	523,407
"A5", Series 2003-1, 5.5%, 2/25/2033	497,737	490,690
Chase Mortgage Finance Corp., "2A1", Series 2004-S3, 5.25%, 3/25/2034	1,011,477	1,010,968
Citicorp Mortgage Securities, Inc.:
"1A1", Series 2003-5, 5.5%, 4/25/2033	164,370	164,860
"1A1", Series 2004-8, 5.5%, 10/25/2034	954,490	905,408
Citigroup Mortgage Loan Trust, Inc.:
"1A2", Series 2006-AR2, 5.525%*, 3/25/2036	2,515,995	2,386,675
"1A4A", Series 2006-AR7, 5.775%*, 11/25/2036	950,504	876,877
"1CB2", Series 2004-NCM2, 6.75%, 8/25/2034	657,107	640,474
Commercial Mortgage Pass-Through Certificates, "A2", Series 1999-1, 6.455%, 5/15/2032	718,101	719,160
Countrywide Alternative Loan Trust:
"1A1", Series 2004-2CB, 4.25%, 3/25/2034	400,660	385,540
"A2", Series 2003-6T2, 5.0%, 6/25/2033	64,077	64,070
"2A1", Series 2004-28CB, 5.0%, 1/25/2035	236,381	228,606
"A2", Series 2004-29CB, 5.0%, 1/25/2035	354,432	334,105
"A2", Series 2002-18, 5.25%, 2/25/2033	658,168	619,287
"1A5", Series 2003-J1, 5.25%, 10/25/2033	319,562	308,432
"1A15", Series 2005-J10, 5.5%, 10/25/2035	578,075	546,300
"1A1", Series 2004-J1, 6.0%, 2/25/2034	101,840	92,918
"A4", Series 2002-11, 6.25%, 10/25/2032	135,606	132,828
Countrywide Home Loan Mortgage Pass-Through Trust:
"A15", Series 2002-34, 4.75%, 1/25/2033	501,448	490,174
"2A17", Series 2004-13, 5.75%, 8/25/2034	803,294	795,640
Countrywide Home Loans:
"3A6", Series 2003-56, 4.49%, 12/25/2033	734,090	718,874
"5A1", Series 2005-HY10, 5.618%*, 2/20/2036	644,398	637,400
Credit Suisse Mortgage Capital Certificates, Inc., "3A1", Series 2006-9, 6.0%, 11/25/2036	753,334	739,680
CS First Boston Mortgage Securities Corp., "A1B", Series 1998-C1, 6.48%, 5/17/2040	37,778	37,776
First Franklin Mortgage Loan Asset Backed Certificate, "A2A", Series 2007-FFC, 3.045%*, 6/25/2027	913,577	738,398
First Horizon Mortgage Pass-Through Trust:
"1A1", Series 2003-5, 5.25%, 4/25/2022	173,358	173,016
"1A1", Series 2007-AR1, 5.851%*, 5/25/2037	691,103	657,541
GMAC Commercial Mortgage Securities, Inc.:
"A2", Series 1999-C1, 6.175%, 5/15/2033	760,422	765,291
"A2", Series 1998-C2, 6.42%, 5/15/2035	535,825	536,031
"C", Series 1998-C1, 6.806%, 5/15/2030	32,514	32,483
"A2", Series 1999-C3, 7.179%, 8/15/2036	2,315,424	2,373,504
"A1B", Series 1999-C3, 7.273%, 8/15/2036	835,831	857,542
GSR Mortgage Loan Trust:
"1A2" Series 2004-7, 5.294%*, 6/25/2034	287,116	277,233
"1A1", Series 2007-AR2, 5.786%*, 5/25/2047	710,436	668,311
"2A1", Series 2007-AR1, 5.998%*, 3/25/2037	1,457,769	1,396,291
"1A2", Series 2005-AR2, 6.462%*, 4/25/2035	470,629	400,099
IndyMac INDA Mortgage Loan Trust, "1A1", Series 2006-AR3, 5.339%*, 12/25/2036	926,499	867,420
IndyMac Index Mortgage Loan Trust, "3A1", Series 2006-AR33, 5.771%*, 1/25/2037	358,219	333,437
JPMorgan Alternative Loan Trust, "3A1A", Series 2006-S1, 5.35%, 3/25/2036	651,591	654,067
JPMorgan Commercial Mortgage Finance Corp., "A2", Series 1999-PLS1, 144A, 7.259%*, 2/15/2032	671,778	674,424
LB-UBS Commercial Mortgage Trust:
"A2", Series 2006-C6, 5.262%, 9/15/2039	600,000	597,721
"A3", Series 2001-C7, 5.642%, 12/15/2025	1,518,711	1,534,999
Master Asset Securitization Trust, "2A1", Series 2004-4, 5.0%, 4/25/2034	702,603	690,563
Merrill Lynch Mortgage Investors Trust, "A2", Series 2005-A5, 4.566%, 6/25/2035	110,000	103,741
MLCC Mortgage Investors, Inc., "1A", Series 2004-1, 6.914%*, 12/25/2034	238,281	236,559
Morgan Stanley Capital I, "A2", Series 2007-HQ11, 5.359%, 2/12/2044	900,000	891,530
Morgan Stanley Mortgage Loan Trust, "5A2", Series 2006-8AR, 5.426%*, 6/25/2036	955,345	925,455
Nationslink Funding Corp., "B", Series 1998-2, 6.795%, 8/20/2030	1,115,000	1,114,664
Residential Accredit Loans, Inc.:
"A6", Series 2002-QS19, 5.125%, 12/25/2032	676,892	675,100
"1A1", Series 2004-QS16, 5.5%, 12/25/2034	595,615	509,251
Residential Asset Mortgage Products, Inc., "A4", Series 2004-SL4, 7.0%, 7/25/2032	714,425	700,807
Residential Asset Securitization Trust:
"2A1", Series 2003-A15, 5.25%, 2/25/2034	368,424	353,738
"A1", Series 2004-A1, 5.25%, 4/25/2034	409,525	373,836
Residential Funding Mortgage Security I:
"A2", Series 2003-S3, 5.25%, 2/25/2018	384,813	386,062
"2A2", Series 2007-SA1, 5.617%*, 2/25/2037	701,667	659,605
Sequoia Mortgage Trust:
"2AA1", Series 2007-3, 5.651%*, 7/20/2037	1,176,990	1,120,154
"4A1", Series 2007-1, 5.767%*, 9/20/2046	946,885	881,896
SunTrust Adjustable Rate Mortgage Loan Trust, "2A1", Series 2007-2, 5.688%*, 4/25/2037	978,857	928,417
TIAA Real Estate CDO Ltd.:
"A3", Series 2001-C1A, 144A, 6.56%, 6/19/2026	53,515	53,423
"A4", Series 2001-C1A, 144A, 6.68%, 6/19/2031	1,170,000	1,191,652
Washington Mutual Mortgage Pass-Through Certificates:
"2A1", Series 2002-S8, 4.5%, 1/25/2018	40,955	40,908
"A7", Series 2003-AR4, 5.31%*, 5/25/2033	563,805	533,587
"1A1", Series 2006-AR18, 5.347%*, 1/25/2037	511,383	484,820
"4A1", Series 2007-HY3, 5.348%*, 3/25/2037	1,295,731	1,233,192
"1A1", Series 2007-HY4, 5.552%*, 4/25/2037	720,731	684,945
"1A1", Series 2006-AR16, 5.605%*, 12/25/2036	690,703	658,583
"1A1", Series 2007-HY2, 5.623%*, 12/25/2036	584,548	562,787
"3A1", Series 2007-HY7, 5.911%*, 7/25/2037	739,980	696,912
Wells Fargo Mortgage Backed Securities Trust:
"1A1", Series 2005-9, 4.75%, 10/25/2035	654,646	629,741
"4A2", Series 2005-AR16, 4.992%*, 10/25/2035	620,000	577,963
"1A3", Series 2006-6, 5.75%, 5/25/2036	1,215,697	1,198,119
"A5", Series 2003-A, 6.866%*, 2/25/2033	435,178	430,331
Total Commercial and Non-Agency Mortgage-Backed Securities (Cost $50,936,633)		49,195,173
Collateralized Mortgage Obligations 1.6%
Federal Home Loan Mortgage Corp.:
"WJ", Series 2557, 5.0%, 7/15/2014	494,137	497,592
"AB", Series 3197, 5.5%, 8/15/2013	881,647	887,180
"N", Series 2141, 5.55%, 11/15/2027	57,562	57,530
"QE", Series 2113, 6.0%, 11/15/2027	124,060	124,309
"PE", Series 2123, 6.0%, 12/15/2027	45,846	45,977
"LA", Series 1343, 8.0%, 8/15/2022	233,675	238,617
"PK", Series 1751, 8.0%, 9/15/2024	780,676	802,006
Federal National Mortgage Association:
"QK", Series 2003-37, 4.0%, 7/25/2027	685,559	682,555
"A2", Series 1998-M6, 6.32%, 8/15/2008	43,523	43,537
Total Collateralized Mortgage Obligations (Cost $3,435,009)		3,379,303
Preferred Securities 1.8%
Banco Mercantil del Norte SA, Series A, 144A, 6.135%, 10/13/2016	357,000	348,109
Goldman Sachs Capital II, 5.793%, 6/1/2012**	1,420,000	1,071,144
Oil Insurance Ltd., 144A, 7.558%, 6/30/2011**	1,325,000	1,157,639
Stoneheath Re, 6.868%, 10/15/2011**	525,000	379,837
Wachovia Capital Trust III, 5.8%, 3/15/2011**	1,242,000	987,390
Total Preferred Securities (Cost $4,789,176)		3,944,119
Government & Agency Obligations 45.0%
US Treasury Obligations
US Treasury Notes:
4.5%, 2/15/2009 (a)	14,736,000	15,042,229
4.75%, 2/15/2010 (a)	53,995,000	56,412,140
4.875%, 4/30/2011 (a)	23,043,000	24,639,811
Total Government & Agency Obligations (Cost $95,987,331)		96,094,180
Municipal Bonds and Notes 0.2%
La Vernia, TX, Higher Education Finance Corp. Revenue, Southwest Winners, Series B, 144A, 5.7%, 2/15/2011 (b) (Cost $465,000)	465,000	462,507

	Shares	Value ($)
Securities Lending Collateral 31.8%
Daily Assets Fund Institutional, 2.88% (c) (d) (Cost $67,872,500)	67,872,500	67,872,500
Cash Equivalents 6.2%
Cash Management QP Trust, 2.54% (c) (Cost $13,246,678)	13,246,678	13,246,678

	% of Net Assets	Value ($)
Total Investment Portfolio (Cost $285,669,634)+	132.2	282,350,458
Other Assets and Liabilities, Net	(32.2)	(68,775,219)
Net Assets	100.0	213,575,239

^* Floating rate notes are securities whose yields vary with a designated market index or market rate, such as the coupon-equivalent of the US Treasury bill rate. These securities are shown at their current rates as of April 30, 2008.
^** Date shown is call date; not a maturity date for the perpetual preferred securities.
⁺ The cost for federal income tax purposes was $285,696,715. At April 30, 2008, net unrealized depreciation for all securities based on tax cost was $3,346,257. This consisted of aggregate gross unrealized appreciation for all securities in which there was an excess of value over tax cost of $478,843 and aggregate gross unrealized depreciation for all securities in which there was an excess of tax cost over value of $3,825,100.
(a) All or a portion of these securities were on loan (see Notes to Financial Statements). The value of all securities loaned at April 30, 2008 amounted to $65,776,061 which is 30.8% of net assets.
(b) Bond is insured by one of these companies:

Insurance Coverage	As a % of Total Investment Portfolio
American Capital Access	0.2

(c) Affiliated fund managed by Deutsche Investment Management Americas Inc. The rate shown is the annualized seven-day yield at period end.
(d) Represents collateral held in connection with securities lending. Income earned by the Fund is net of borrower rebates.
(e) Non-income producing security.

144A: Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may be resold in transactions exempt from registration, normally to qualified institutional buyers.

Included in the portfolio are investments in mortgage or asset-backed securities which are interests in separate pools of mortgages or assets. Effective maturities of these investments may be shorter than stated maturities due to prepayments. Some separate investments in the Federal Home Loan Mortgage Corp., and the Federal National Mortgage Association issues have similar coupon rates and have been aggregated for presentation purposes in the investment portfolio.

The accompanying notes are an integral part of the financial statements.

Financial Statements

Statement of Assets and Liabilities as of April 30, 2008 (Unaudited)
Assets
Investments: Investments in securities, at value (cost $204,550,456) — including $65,776,061 of securities loaned	$ 201,231,280
Investment in Daily Assets Fund Institutional (cost $67,872,500)*	67,872,500
Investment in Cash Management QP Trust (cost $13,246,678)	13,246,678
Total investments, at value (cost $285,669,634)	282,350,458
Cash	435,103
Receivable for investments sold	641,897
Receivable for Fund shares sold	1,141,260
Interest receivable	1,402,243
Due from Advisor	54,584
Other assets	54,147
Total assets	286,079,692
Liabilities
Payable for investments purchased	3,377,708
Payable upon return of securities loaned	67,872,500
Payable for Fund shares redeemed	923,066
Distributions payable	120,097
Accrued management fee	36,550
Other accrued expenses and payables	174,532
Total liabilities	72,504,453
Net assets, at value	$ 213,575,239
Net Assets Consist of
Undistributed net investment income	106,852
Net unrealized appreciation (depreciation) on investments	(3,319,176)
Accumulated net realized gain (loss)	(2,875,232)
Paid-in capital	219,662,795
Net assets, at value	$ 213,575,239

* Represents collateral on securities loaned.

The accompanying notes are an integral part of the financial statements.

Statement of Assets and Liabilities as of April 30, 2008 (Unaudited) (continued)
Net Asset Value
Class A Net Asset Value and redemption price(a) per share ($168,711,390 ÷ 17,322,733 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 9.74
Maximum offering price per share (100 ÷ 97.25 of $9.74)	$ 10.02
Class B Net Asset Value, offering and redemption price(a) (subject to contingent deferred sales charge) per share ($5,825,377 ÷ 597,804 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 9.74
Class C Net Asset Value, offering and redemption price(a) (subject to contingent deferred sales charge) per share ($22,429,439 ÷ 2,304,748 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 9.73
Class S Net Asset Value, offering and redemption price(a) per share ($1,950,891 ÷ 200,352 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 9.74
Institutional Class Net Asset Value, offering and redemption price(a) per share ($14,658,142 ÷ 1,502,702 outstanding shares of beneficial interest, $.001 par value, unlimited number of shares authorized)	$ 9.75

^(a) Redemption price per share for shares held less than 15 days is equal to net asset value less a 2% redemption fee.

The accompanying notes are an integral part of the financial statements.

Statement of Operations for the six months ended April 30, 2008 (Unaudited)
Investment Income
Income: Interest	$ 3,434,118
Interest — Cash Management QP Trust	92,030
Securities lending income, including income from Daily Assets Fund Institutional, net of borrower rebates	147,921
Total Income	3,674,069
Expenses: Management fee	290,014
Administration fee	72,503
Services to shareholders	154,697
Distribution and service fees	258,815
Custodian fee	6,059
Professional fees	39,344
Trustees' fees and expenses	3,533
Reports to shareholders	34,938
Registration fees	27,838
Other	9,291
Total expenses before expense reductions	897,032
Expense reductions	(303,949)
Total expenses after expense reductions	593,083
Net investment income	3,080,986
Realized and Unrealized Gain (Loss)
Net realized gain (loss) from investments	227,671
Change in net unrealized appreciation (depreciation) on investments	(2,717,115)
Net gain (loss)	(2,489,444)
Net increase (decrease) in net assets resulting from operations	$ 591,542

The accompanying notes are an integral part of the financial statements.

Statement of Changes in Net Assets
Increase (Decrease) in Net Assets	Six Months Ended April 30, 2008 (Unaudited)	Year Ended October 31, 2007
Operations: Net investment income	$ 3,080,986	$ 4,811,056
Net realized gain (loss)	227,671	(195,311)
Change in net unrealized appreciation (depreciation)	(2,717,115)	198,176
Net increase (decrease) in net assets resulting from operations	591,542	4,813,921
Distributions to shareholders from: Net investment income: Class A	(2,188,702)	(2,950,099)
Class B	(106,731)	(232,457)
Class C	(411,540)	(800,197)
Class S	(39,362)	(41,280)
Institutional Class	(342,990)	(788,949)
Total distributions	(3,089,325)	(4,812,982)
Fund share transactions: Proceeds from shares sold	125,250,796	58,679,283
Reinvestment of distributions	2,567,310	3,814,419
Cost of shares redeemed	(44,177,994)	(45,458,735)
Redemption fees	3,463	3,192
Net increase (decrease) in net assets from Fund share transactions	83,643,575	17,038,159
Increase (decrease) in net assets	81,145,792	17,039,098
Net assets at beginning of period	132,429,447	115,390,349
Net assets at end of period (including undistributed net investment income of $106,852 and $115,191, respectively)	$ 213,575,239	$ 132,429,447

The accompanying notes are an integral part of the financial statements.

Financial Highlights

Class A Years Ended October 31,	2008a	2007	2006	2005	2004	2003b
Selected Per Share Data
Net asset value, beginning of period	$ 9.91	$ 9.91	$ 9.89	$ 10.06	$ 10.07	$ 10.09
Income (loss) from investment operations: Net investment incomec	.21	.43	.41	.31	.27	.17
Net realized and unrealized gain (loss)	(.16)	.00***	.02	(.16)	(.00)***	(.02)
Total from investment operations	.05	.43	.43	.15	.27	.15
Less distributions from: Net investment income	(.22)	(.43)	(.41)	(.32)	(.27)	(.17)
Net realized gains	—	—	—	—	(.01)	—
Total distributions	(.22)	(.43)	(.41)	(.32)	(.28)	(.17)
Redemption fees	.00***	.00***	.00***	.00***	—	—
Net asset value, end of period	$ 9.74	$ 9.91	$ 9.91	$ 9.89	$ 10.06	$ 10.07
Total Return (%)d,e	.49**	4.41	4.44	1.50	2.68	1.52**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	169	86	63	79	82	52
Ratio of expenses before expense reductions (%)	1.14*	1.14	1.03	.91	.89	.90*
Ratio of expenses after expense reductions (%)	.70*	.70	.58	.55	.55	.55*
Ratio of net investment income (%)	4.37*	4.31	4.16	3.15	2.69	2.57*
Portfolio turnover rate (%)	47**	230	198	161	236	322
a For the six months ended April 30, 2008 (Unaudited). b For the period from February 28, 2003 (commencement of operations of Class A shares) to October 31, 2003. c Based on average shares outstanding during period. d Total return does not reflect the effect of any sales charges. e Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized *** Amount is less than $.005.

Class B Years Ended October 31,	2008a	2007	2006	2005	2004	2003b
Selected Per Share Data
Net asset value, beginning of period	$ 9.91	$ 9.91	$ 9.89	$ 10.06	$ 10.07	$ 10.09
Income (loss) from investment operations: Net investment incomec	.18	.35	.35	.25	.21	.13
Net realized and unrealized gain (loss)	(.17)	.00***	.02	(.16)	(.01)	(.02)
Total from investment operations	.01	.35	.37	.09	.20	.11
Less distributions from: Net investment income	(.18)	(.35)	(.35)	(.26)	(.20)	(.13)
Net realized gains	—	—	—	—	(.01)	—
Total distributions	(.18)	(.35)	(.35)	(.26)	(.21)	(.13)
Redemption fees	.00***	.00***	.00***	.00***	—	—
Net asset value, end of period	$ 9.74	$ 9.91	$ 9.91	$ 9.89	$ 10.06	$ 10.07
Total Return (%)d,e	.10**	3.60	3.81	.88	2.04	1.10**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	6	6	8	9	11	8
Ratio of expenses before expense reductions (%)	1.86*	1.90	1.77	1.65	1.64	1.64*
Ratio of expenses after expense reductions (%)	1.45*	1.45	1.19	1.15	1.15	1.16*
Ratio of net investment income (%)	3.62*	3.56	3.55	2.55	2.09	1.89*
Portfolio turnover rate (%)	47**	230	198	161	236	322
a For the six months ended April 30, 2008 (Unaudited). b For the period from February 28, 2003 (commencement of operations of Class B shares) to October 31, 2003. c Based on average shares outstanding during period. d Total return does not reflect the effect of any sales charges. e Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized *** Amount is less than $.005.

Class C Years Ended October 31,	2008a	2007	2006	2005	2004	2003b
Selected Per Share Data
Net asset value, beginning of period	$ 9.90	$ 9.90	$ 9.88	$ 10.05	$ 10.06	$ 10.09
Income (loss) from investment operations: Net investment incomec	.18	.35	.35	.25	.21	.13
Net realized and unrealized gain (loss)	(.17)	.00***	.02	(.16)	(.01)	(.03)
Total from investment operations	.01	.35	.37	.09	.20	.10
Less distributions from: Net investment income	(.18)	(.35)	(.35)	(.26)	(.20)	(.13)
Net realized gains	—	—	—	—	(.01)	—
Total distributions	(.18)	(.35)	(.35)	(.26)	(.21)	(.13)
Redemption fees	.00***	.00***	.00***	.00***	—	—
Net asset value, end of period	$ 9.73	$ 9.90	$ 9.90	$ 9.88	$ 10.05	$ 10.06
Total Return (%)d,e	.10**	3.61	3.81	.88	2.03	1.00**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	22	21	24	31	37	28
Ratio of expenses before expense reductions (%)	1.78*	1.87	1.79	1.65	1.64	1.64*
Ratio of expenses after expense reductions (%)	1.45*	1.45	1.19	1.15	1.15	1.15*
Ratio of net investment income (%)	3.62*	3.56	3.55	2.55	2.09	1.90*
Portfolio turnover rate (%)	47**	230	198	161	236	322
a For the six months ended April 30, 2008 (Unaudited). b For the period from February 28, 2003 (commencement of operations of Class C shares) to October 31, 2003. c Based on average shares outstanding during period. d Total return does not reflect the effect of any sales charges. e Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized *** Amount is less than $.005.

Class S Years Ended October 31,	2008a	2007	2006	2005b
Selected Per Share Data
Net asset value, beginning of period	$ 9.91	$ 9.91	$ 9.89	$ 10.01
Income (loss) from investment operations: Net investment incomec	.23	.45	.40	.23
Net realized and unrealized gain (loss)	(.17)	.00***	.01	(.11)
Total from investment operations	.06	.45	.41	.12
Less distributions from: Net investment income	(.23)	(.45)	(.39)	(.24)
Redemption fees	.00***	.00***	.00***	.00***
Net asset value, end of period	$ 9.74	$ 9.91	$ 9.91	$ 9.89
Total Return (%)d	.60**	4.67	4.29	1.19**
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	2	1	.6	.3
Ratio of expenses before expense reductions (%)	2.02*	1.15	.98	.92*
Ratio of expenses after expense reductions (%)	.45*	.45	.71	.74*
Ratio of net investment income (%)	4.62*	4.56	4.03	3.07*
Portfolio turnover rate (%)	47**	230	198	161
a For the six months ended April 30, 2008 (Unaudited). b For the period from February 1, 2005 (commencement of operations of Class S shares) to October 31, 2005. c Based on average shares outstanding during the period. d Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized *** Amount is less than $.005.

Institutional Class Years Ended October 31,	2008a	2007	2006	2005	2004	2003
Selected Per Share Data
Net asset value, beginning of period	$ 9.92	$ 9.92	$ 9.90	$ 10.07	$ 10.07	$ 10.17
Income (loss) from investment operations: Net investment incomeb	.23	.45	.41	.31	.27	.27
Net realized and unrealized gain (loss)	(.17)	.00***	.02	(.16)	(.00)***	.01
Total from investment operations	.06	.45	.43	.15	.27	.28
Less distributions from: Net investment income	(.23)	(.45)	(.41)	(.32)	(.26)	(.31)
Net realized gains	—	—	—	—	(.01)	(.07)
Total distributions	(.23)	(.45)	(.41)	(.32)	(.27)	(.38)
Redemption fees	.00***	.00***	.00***	.00***	—	—
Net asset value, end of period	$ 9.75	$ 9.92	$ 9.92	$ 9.90	$ 10.07	$ 10.07
Total Return (%)c	.60**	4.64	4.47	1.50	2.74	2.80
Ratios to Average Net Assets and Supplemental Data
Net assets, end of period ($ millions)	15	18	19	33	58	129
Ratio of expenses before expense reductions (%)	.72*	.82	.77	.66	.62	.68
Ratio of expenses after expense reductions (%)	.45*	.45	.56	.55	.55	.55
Ratio of net investment income (%)	4.62*	4.56	4.18	3.15	2.69	2.70
Portfolio turnover rate (%)	47**	230	198	161	236	322
a For the six months ended April 30, 2008 (Unaudited). b Based on average shares outstanding during the period. c Total return would have been lower had certain expenses not been reduced. * Annualized ** Not annualized *** Amount is less than $.005.

Notes to Financial Statements (Unaudited)

A. Significant Accounting Policies

DWS Short Duration Fund (the "Fund") is a diversified series of DWS Advisor Funds (the "Trust") which is registered under the Investment Company Act of 1940, as amended, (the "1940 Act"), as an open-end management investment company organized as a Massachusetts business trust.

The Fund offers multiple classes of shares which provide investors with different purchase options. Class A shares are offered to investors subject to an initial sales charge. Class B shares are offered to investors without an initial sales charge but are subject to higher ongoing expenses than Class A shares and a contingent deferred sales charge payable upon certain redemptions. Class B shares automatically convert to Class A shares six years after issuance. Class C shares are offered to investors without an initial sales charge but are subject to higher ongoing expenses than Class A shares and a contingent deferred sales charge payable upon certain redemptions within one year of purchase. Class C shares do not convert into another class. Institutional Class shares are offered to a limited group of investors, are not subject to initial or contingent deferred sales charges and have lower ongoing expenses than other classes. Class S shares are not subject to initial or contingent deferred sales charges and are generally not available to new investors except under certain circumstances.

Investment income, realized and unrealized gains and losses, and certain fund-level expenses and expense reductions, if any, are borne pro rata on the basis of relative net assets by the holders of all classes of shares, except that each class bears certain expenses unique to that class such as distribution and service fees, services to shareholders and certain other class-specific expenses. Differences in class-level expenses may result in payment of different per share dividends by class. All shares of the Fund have equal rights with respect to voting subject to class-specific arrangements.

The Fund's financial statements are prepared in accordance with accounting principles generally accepted in the United States of America which require the use of management estimates. Actual results could differ from those estimates. The policies described below are followed consistently by the Fund in the preparation of its financial statements.

Security Valuation. Investments are stated at value determined as of the close of regular trading on the New York Stock Exchange on each day the exchange is open for trading. Debt securities are valued by independent pricing services approved by the Trustees of the Fund. If the pricing services are unable to provide valuations, the securities are valued at the most recent bid quotation or evaluated price, as applicable, obtained from a broker-dealer. Such services may use various pricing techniques which take into account appropriate factors such as yield, quality, coupon rate, maturity, type of issue, trading characteristics and other data, as well as broker quotes.

Money market instruments purchased with an original or remaining maturity of sixty days or less, maturing at par, are valued at amortized cost. Investments in open-end investment companies and Cash Management QP Trust are valued at their net asset value each business day.

Securities and other assets for which market quotations are not readily available or for which the above valuation procedures are deemed not to reflect fair value are valued in a manner that is intended to reflect their fair value as determined in accordance with procedures approved by the Trustees.

New Accounting Pronouncements. In September 2006, the Financial Accounting Standards Board ("FASB") released Statement of Financial Accounting Standards No. 157, "Fair Value Measurements" ("FAS 157"). FAS 157 defines fair value, establishes a framework for measuring fair value and expands disclosures about fair value measurements. FAS 157 is effective for fiscal years beginning after November 15, 2007. As of April 30, 2008, management does not believe the adoption of FAS 157 will impact the amounts reported in the financial statements, however, additional disclosures will be required about the inputs used to develop the measurements of fair value and the effect of certain of the measurements reported in the statement of operations for a fiscal period.

In addition, in March 2008, FASB issued Statement of Financial Accounting Standards No. 161 ("FAS 161") Disclosures about Derivative Instruments and Hedging Activities, an amendment of FASB Statement No. 133. FAS 161 requires enhanced disclosure about an entity's derivative and hedging activities. FAS 161 is effective for fiscal years beginning after November 15, 2008. Management is currently evaluating the impact the adoption of FAS 161 will have on the Fund's financial statement disclosures.

Securities Lending. The Fund may lend securities to financial institutions. The Fund retains beneficial ownership of the securities it has loaned and continues to receive interest and dividends paid by the issuer of securities and to participate in any changes in their market value. The Fund requires the borrowers of the securities to maintain collateral with the Fund consisting of liquid, unencumbered assets having a value at least equal to the value of the securities loaned. The Fund may invest the cash collateral into a joint trading account in an affiliated money market fund pursuant to Exemptive Orders issued by the SEC. The Fund receives compensation for lending its securities either in the form of fees or by earning interest on invested cash collateral net of borrower rebates and fees paid to the lending agent. Either the Fund or the borrower may terminate the loan. The Fund is subject to all investment risks associated with the value of any cash collateral received, including, but not limited to, interest rate, credit and liquidity risk associated with such investments.

When-Issued/Delayed Delivery Securities. The Fund may purchase securities with delivery or payment to occur at a later date beyond the normal settlement period. At the time the Fund enters into a commitment to purchase a security, the transaction is recorded and the value of the security is reflected in the net asset value. The price of such security and the date when the security will be delivered and paid for are fixed at the time the transaction is negotiated. The value of the security may vary with market fluctuations. No interest accrues to the Fund until payment takes place. At the time the Fund enters into this type of transaction it is required to segregate cash or other liquid assets at least equal to the amount of the commitment.

Certain risks may arise upon entering into when-issued or delayed delivery securities from the potential inability of counterparties to meet the terms of their contracts or if the issuer does not issue the securities due to political, economic, or other factors. Additionally, losses may arise due to changes in the value of the underlying securities.

Federal Income Taxes. The Fund's policy is to comply with the requirements of the Internal Revenue Code, as amended, which are applicable to regulated investment companies, and to distribute all of its taxable income to its shareholders.

At October 31, 2007, the Fund had a net tax basis capital loss carryforward of approximately $3,076,000, which may be applied against any realized net taxable capital gains of each succeeding year until fully utilized or until October 31, 2012 ($83,000), October 31, 2013 ($1,646,000), October 31, 2014 ($1,157,000) and October 31, 2015 ($190,000), the respective expiration dates, whichever occurs first.

The Fund has reviewed the tax positions for each of the three open tax years as of October 31, 2007 and has determined that no provision for income tax is required in the Fund's financial statements. The Fund's federal tax returns for the prior three fiscal years remain subject to examination by the Internal Revenue Service.

Distribution of Income and Gains. Net investment income of the Fund is declared as a daily dividend and distributed to shareholders monthly. Net realized gains from investment transactions, in excess of available capital loss carryforwards, would be taxable to the Fund if not distributed, and, therefore, will be distributed to shareholders at least annually.

The timing and characterization of certain income and capital gains distributions are determined annually in accordance with federal tax regulations which may differ from accounting principles generally accepted in the United States of America. These differences primarily relate to securities sold at a loss. As a result, net investment income (loss) and net realized gain (loss) on investment transactions for a reporting period may differ significantly from distributions during such period. Accordingly, the Fund may periodically make reclassifications among certain of its capital accounts without impacting the net asset value of the Fund.

The tax character of current year distributions will be determined at the end of the current fiscal year.

Redemption Fees. The Fund imposes a redemption fee of 2% of the total redemption amount on all Fund shares redeemed or exchanged within 15 days of buying them, either by purchase or exchange. This fee is assessed and retained by the Fund for the benefit of the remaining shareholders. The redemption fee is accounted for as an addition to paid-in capital.

Expenses. Expenses of the Trust arising in connection with a specific fund are allocated to that fund. Other Trust expenses which cannot be directly attributed to a fund are apportioned among the funds in the Trust.

Contingencies. In the normal course of business, the Fund may enter into contracts with service providers that contain general indemnification clauses. The Fund's maximum exposure under these arrangements is unknown as this would involve future claims that may be made against the Fund that have not yet been made. However, based on experience, the Fund expects the risk of loss to be remote.

Other. Investment transactions are accounted for on a trade date plus one basis for daily net asset value calculations. However, for financial reporting purposes, investment security transactions are reported on trade date. Interest income is recorded on the accrual basis. Realized gains and losses from investment transactions are recorded on an identified cost basis. All discounts and premiums are accreted/amortized for both tax and financial reporting purposes.

B. Purchases and Sales of Securities

During the six months ended April 30, 2008, purchases and sales of investment securities (excluding short-term investments and US Treasury securities) aggregated $33,503,757 and $26,911,201, respectively. Purchases and sales of US Treasury securities aggregated $107,000,809 and $40,316,077, respectively.

C. Related Parties

Management Agreement. Under the Investment Management Agreement with Deutsche Investment Management Americas Inc. ("DIMA" or the "Advisor"), an indirect, wholly owned subsidiary of Deutsche Bank, AG, the Advisor directs the investments of the Fund in accordance with its investment objectives, policies and restrictions. The Advisor determines the securities, instruments and other contracts relating to investments to be purchased, sold or entered into by the Fund or delegates such responsibility to the Fund's subadvisor.

Pursuant to a written contract, Aberdeen Asset Management Inc. ("AAMI"), a direct, wholly owned subsidiary of Aberdeen Asset Management PLC, serves as subadvisor to the Fund. AAMI is paid for its services by the Advisor from its fee as investment advisor to the Fund.

Under the Investment Management Agreement with the Advisor, the Fund pays a monthly management fee based on the Fund's average daily net assets, computed and accrued daily and payable monthly, at the following annual rates:

First $500 million of the Fund's average daily net assets	.400%
Next $500 million of such net assets	.385%
Next $1.0 billion of such net assets	.370%
Over $2.0 billion of such net assets	.355%

For the period from November 1, 2007 through November 30, 2009, the Advisor has contractually agreed to waive 0.18% of its management fee.

For the period from November 1, 2007 through February 28, 2009, the Advisor has contractually agreed to waive all or a portion of its management fee and reimburse or pay certain operating expenses of the Fund (excluding certain expenses such as extraordinary expenses, taxes, brokerage and interest) to the extent necessary to maintain the operating expenses of each class as follows:

Class A	.92%
Class B	1.67%
Class C	1.67%
Class S	.67%
Institutional Class	.67%

The Advisor has voluntarily agreed to waive all or a portion of its management fee and reimburse or pay certain operating expenses of the Fund (excluding certain expenses such as extraordinary expenses, taxes, brokerage and interest) to the extent necessary to maintain the operating expenses of each class as follows:

Class A	.70%
Class B	1.45%
Class C	1.45%
Class S	.45%
Institutional Class	.45%

This voluntary waiver or reimbursement may be terminated at any time at the option of the Advisor.

Accordingly for the six months ended April 30, 2008, the Advisor waived a portion of its management fee pursuant to the Investment Management Agreement aggregating $164,384 and the amount charged aggregated $125,630 which was equivalent to an annualized effective rate of 0.17% of the Fund's average daily net assets.

In addition, the Advisor reimbursed $10,468 and $1,322 of sub-recordkeeping expenses for Class S and Institutional Class shares, respectively.

Administration Fee. Pursuant to an Administrative Services Agreement, DIMA provides most administrative services to the Fund. For all services provided under the Administrative Services Agreement, the Fund pays the Advisor an annual fee ("Administration Fee") of 0.10% of the Fund's average daily net assets, computed and accrued daily and payable monthly. For the six months ended April 30, 2008, the Advisor received an Administration Fee of $72,503, of which $14,574 is unpaid.

Service Provider Fees. DWS Scudder Investments Service Company ("DWS-SISC"), an affiliate of the Advisor, is the transfer agent, dividend-paying agent and shareholder service agent for the Fund. Pursuant to a sub-transfer agency agreement between DWS-SISC and DST Systems, Inc. ("DST"), DWS-SISC has delegated certain transfer agent, dividend-paying agent and shareholder service agent functions to DST. DWS-SISC compensates DST out of the shareholder servicing fee it receives from the Fund. For the six months ended April 30, 2008, the amounts charged to the Fund by DWS-SISC were as follows:

Services to Shareholders	Total Aggregated	Waived
Class A	$ 14,841	$ 14,841
Class B	4,780	4,780
Class C	7,616	7,616
Class S	820	820
Institutional Class	1,688	1,688
	$ 29,745	$ 29,745

Distribution and Service Fees. Under the Fund's Class B and Class C 12b-1 Plans, DWS Scudder Distributors, Inc. ("DWS-SDI"), an affiliate of the Advisor, receives a fee ("Distribution Fee") of 0.75% of average daily net assets of each of Class B and C shares. In accordance with the Fund's Underwriting and Distribution Services Agreement, DWS-SDI enters into related selling group agreements with various firms at various rates for sales of Class B and C shares. For the six months ended April 30, 2008, the Distribution Fee was as follows:

Distribution Fee	Total Aggregated	Unpaid at April 30, 2008
Class B	$ 21,758	$ 4,666
Class C	83,903	16,546
	$ 105,661	$ 21,212

In addition, DWS-SDI provides information and administrative services for a fee ("Service Fee") to Class A, B and C shareholders at an annual rate of up to 0.25% of average daily net assets for each such class. DWS-SDI in turn has various agreements with financial services firms that provide these services and pays these fees based upon the assets of shareholder accounts the firms service. For the six months ended April 30, 2008, the Service Fee was as follows:

Service Fee	Total Aggregated	Waived	Unpaid at April 30, 2008	Annualized Effective Rate
Class A	$ 118,020	$ 90,782	$ —	.05%
Class B	7,210	473	1,140	.23%
Class C	27,924	3,193	3,356	.22%
	$ 153,154	$ 94,448	$ 4,496

Underwriting Agreement and Contingent Deferred Sales Charge. DWS-SDI is the principal underwriter for the Fund. Underwriting commissions paid in connection with the distribution of Class A shares for the six months ended April 30, 2008, aggregated $7,191.

In addition, DWS-SDI receives any contingent deferred sales charge ("CDSC") from Class B share redemptions occurring within six years of purchase and Class C share redemptions occurring within one year of purchase. There is no such charge upon redemption of any share appreciation or reinvested dividends. The CDSC is based on declining rates ranging from 4% to 1% for Class B and 1% for Class C, of the value of the shares redeemed. For the six months ended April 30, 2008, the CDSC for the Class B and C shares aggregated $7,209 and $1,689, respectively. A deferred sales charge of up to 0.75% is assessed on certain redemptions of Class A shares.

Typesetting and Filing Service Fees. Under an agreement with DIMA, DIMA is compensated for providing typesetting and certain regulatory filing services to the Fund. For the six months ended April 30, 2008, the amount charged to the Fund by DIMA included in the Statement of Operations under "reports to shareholders" aggregated $14,312, of which $6,532 is unpaid.

Trustees' Fees and Expenses. The Fund paid each Trustee not affiliated with the Advisor retainer fees plus specific amounts for various committee services and for the Board Chairperson.

In connection with the board consolidation on April 1, 2008, of the two DWS Funds Boards of Trustees, certain Independent Board Members retired prior to their normal retirement date, and received a one-time retirement benefit. DIMA has agreed to reimburse the Funds for the cost of this benefit. During the period ended April 30, 2008, the Fund paid its allocated portion of the retirement benefit of $773 to the non-continuing Independent Board Members, and the Fund was reimbursed by DIMA for this payment.

Cash Management QP Trust. Pursuant to an Exemptive Order issued by the SEC, the Fund may invest in the Cash Management QP Trust (the "QP Trust"), and other affiliated funds managed by the Advisor. The QP Trust seeks to provide as high a level of current income as is consistent with the preservation of capital and the maintenance of liquidity. The QP Trust does not pay the Advisor a management fee for the affiliated funds' investments in the QP Trust.

D. Concentration of Ownership

From time to time the Fund may have a concentration of several shareholders holding a significant percentage of shares outstanding. Investment activities of these shareholders could have a material impact on the Fund.

At April 30, 2008, one shareholder individually held greater than 10% of the outstanding shares of the Fund. This shareholder held 57% of the total shares outstanding of the Fund.

E. Fee Reductions

The Fund has entered into an arrangement with its custodian and transfer agent whereby credits realized as a result of uninvested cash balances are used to reduce a portion of the Fund's custodian expenses. During the six months ended April 30, 2008, the Fund's custodian fee was reduced by $2,170 and $639 for custody and transfer agent credits earned.

F. Line of Credit

The Fund and other affiliated funds (the "Participants") share in a $490 million revolving credit facility administered by JPMorgan Chase Bank, N.A. for temporary or emergency purposes, including the meeting of redemption requests that otherwise might require the untimely disposition of securities. The Participants are charged an annual commitment fee which is allocated based on net assets, among each of the Participants. Interest is calculated at the Federal Funds Rate plus 0.35 percent. The Fund may borrow up to a maximum of 33 percent of its net assets under the agreement.

G. Share Transactions

The following table summarizes share and dollar activity in the Fund:

	Six Months Ended April 30, 2008		Year Ended October 31, 2007
	Shares	Dollars	Shares	Dollars
Shares sold
Class A	11,545,443	$ 113,019,972	4,621,302	$ 45,811,062
Class B	161,408	1,601,168	168,721	1,673,897
Class C	552,895	5,481,497	525,553	5,208,098
Class S	110,694	1,096,972	157,308	1,558,560
Institutional Class	409,930	4,051,187	446,099	4,427,666
		$ 125,250,796		$ 58,679,283
Shares issued to shareholders in reinvestment of distributions
Class A	199,677	$ 1,971,971	258,520	$ 2,563,297
Class B	8,667	85,662	16,718	165,788
Class C	28,599	282,340	52,334	518,277
Class S	3,100	30,581	2,830	28,061
Institutional Class	19,872	196,756	54,297	538,996
		$ 2,567,310		$ 3,814,419
Shares redeemed
Class A	(3,061,115)	$ (30,158,506)	(2,636,663)	$ (26,141,379)
Class B	(149,867)	(1,483,160)	(398,184)	(3,948,068)
Class C	(424,837)	(4,202,172)	(869,673)	(8,612,182)
Class S	(52,189)	(512,895)	(80,500)	(798,610)
Institutional Class	(787,922)	(7,821,261)	(600,523)	(5,958,496)
		$ (44,177,994)		$ (45,458,735)
Redemption fees		$ 3,463		$ 3,192
Net increase (decrease)
Class A	8,684,005	$ 84,834,750	2,243,159	$ 22,234,982
Class B	20,208	205,243	(212,745)	(2,108,343)
Class C	156,657	1,561,884	(291,786)	(2,884,675)
Class S	61,605	614,978	79,638	788,011
Institutional Class	(358,120)	(3,573,280)	(100,127)	(991,816)
		$ 83,643,575		$ 17,038,159

Summary of Management Fee Evaluation by Independent Fee Consultant

October 26, 2007

Pursuant to an Order entered into by Deutsche Investment Management Americas and affiliates (collectively, "DeAM") with the Attorney General of New York, I, Thomas H. Mack, have been appointed the Independent Fee Consultant for the DWS Scudder Funds. My duties include preparing an annual written evaluation of the management fees DeAM charges the Funds, considering among other factors the management fees charged by other mutual fund companies for like services, management fees DeAM charges other clients for like services, DeAM's costs of supplying services under the management agreements and related profit margins, possible economies of scale if a Fund grows larger, and the nature and quality of DeAM's services, including fund performance. This report summarizes my evaluation for 2007, including my qualifications, the evaluation process for each of the DWS Scudder Funds, consideration of certain complex-level factors, and my conclusions.

Qualifications

For more than 30 years I have served in various professional capacities within the investment management business. I have held investment analysis and advisory positions, including securities analyst, portfolio strategist and director of investment policy with a large investment firm. I have also performed business management functions, including business development, financial management and marketing research and analysis.

Since 1991, I have been an independent consultant within the asset management industry. I have provided services to over 125 client organizations, including investment managers, mutual fund boards, product distributors and related organizations. Over the past several years I have completed a number of assignments for mutual fund boards, specifically including assisting boards with management contract renewal.

I hold a Master of Business Administration degree, with highest honors, from Harvard University; and Master of Science and Bachelor of Science (highest honors) degrees from the University of California at Berkeley. I am an independent director and audit committee financial expert for two closed-end mutual funds, serve on the board of directors of a private market research company, and have served in various leadership and financial oversight capacities with non-profit organizations.

Evaluation of Fees for each DWS Scudder Fund

My work focused primarily on evaluating, fund-by-fund, the fees charged to each of the 136 Fund portfolios in the DWS Scudder Fund family. For each Fund, I considered each of the key factors mentioned above, as well as any other relevant information. In doing so I worked closely with the Funds' Independent Directors in their annual contract renewal process, as well as in their approval of contracts for several new funds (documented separately).

In evaluating each Fund's fees, I reviewed comprehensive materials provided by or on behalf of DeAM, including expense information prepared by Lipper Analytical, comparative performance information, profitability data, manager histories, and other materials. I also accessed certain additional information from the Lipper, Strategic Insight, and Morningstar databases and drew on my industry knowledge and experience.

To facilitate evaluating this considerable body of information, I prepared for each Fund a document summarizing the key data elements in each area as well as additional analytics discussed below. This made it possible to consider each key data element in the context of the others.

In the course of contract renewal, DeAM agreed to implement a number of fee and expense adjustments requested by the Independent Directors which will favorably impact future fees and expenses, and my evaluation includes the effects of these changes.

Fees and Expenses Compared with Other Funds

The competitive fee and expense evaluation for each fund focused on two primary comparisons:

The Fund's contractual management fee (the advisory fee plus the administration fee where applicable) compared with those of a group of typically 12-15 funds in the same Lipper investment category (e.g. Large Capitalization Growth) having similar distribution arrangements and being of similar size.

The Fund's total expenses compared with a broader universe of funds from the same Lipper investment category and having similar distribution arrangements.

These two comparisons provide a view of not only the level of the fee compared with funds of similar scale but also the total expense the Fund bears for all the services it receives, in comparison with the investment choices available in the Fund's investment category and distribution channel. The principal figure-of-merit used in these comparisons was the subject Fund's percentile ranking against peers.

DeAM's Fees for Similar Services to Others

DeAM provided management fee schedules for all of its US domiciled fund and non-fund investment management accounts in any of the investment categories where there is a DWS Scudder Fund. These similar products included the other DWS Scudder Funds, non-fund pooled accounts, institutional accounts and sub-advisory accounts. Using this information, I calculated for each Fund the fee that would be charged to each similar product, at the subject Fund's asset level.

Evaluating information regarding non-fund products is difficult because there are varying levels of services required for different types of accounts, with mutual funds generally requiring considerably more regulatory and administrative types of service as well as having more frequent cash flows than other types of accounts. Also, while mutual fund fees for similar fund products can be expected to be similar, there will be some differences due to different pricing conditions in different distribution channels (e.g. retail funds versus those used in variable insurance products), differences in underlying investment processes and other factors.

Costs and Profit Margins

DeAM provided a detailed profitability analysis for each Fund. After making some adjustments so that the presentation would be more comparable to the available industry figures, I reviewed profit margins from investment management alone, from investment management plus other fund services (excluding distribution) provided to the Funds by DeAM (principally shareholder services), and DeAM profits from all sources, including distribution. A later section comments on overall profitability.

Economies of Scale

Economies of scale — an expected decline in management cost per dollar of fund assets as fund assets grow — are very rarely quantified and documented because of inherent difficulties in collecting and analyzing relevant data. However, in virtually every investment category that I reviewed, larger funds tend to have lower fees and lower total expenses than smaller funds. To see how each DWS Scudder Fund compares with this industry observation, I reviewed:

The trend in Fund assets over the last five years and the accompanying trend in total expenses. This shows if the Fund has grown and, if so, whether total expense (management fees as well as other expenses) have declined as a percent of assets.

Whether the Fund has break-points in its management fee schedule, the extent of the fee reduction built into the schedule and the asset levels where the breaks take effect, and in the case of a sub-advised Fund how the Fund's break-points compare with those of the sub-advisory fee schedule.

How the Fund's contractual fee schedule compares with trends in the industry data. To accomplish this, I constructed a chart showing how actual latest-fiscal-year contractual fees of the Fund and of other similar funds relate to average fund assets, with the subject Fund's contractual fee schedule superimposed.

Quality of Service — Performance

The quality-of-service evaluation focused on investment performance, which is the principal result of the investment management service. Each Fund's performance was reviewed over the past 1, 3, 5 and 10 years, as applicable, and compared with that of other funds in the same investment category and with a suitable market index.

In addition, I calculated and reviewed risk-adjusted returns relative to an index of similar mutual funds' returns and a suitable market index. The risk-adjusted returns analysis provides a way of determining the extent to which the Fund's return comparisons are mainly the product of investment value-added (or lack thereof) or alternatively taking considerably more or less risk than is typical in its investment category.

I also received and considered the history of portfolio manager changes for each Fund, as this provided an important context for evaluating the performance results.

Complex-Level Considerations

While this evaluation was conducted mainly at the individual fund level, there are some issues relating to the reasonableness of fees that can alternatively be considered across the whole fund complex:

I reviewed DeAM's profitability analysis for all DWS Scudder funds, with a view toward determining if the allocation procedures used were reasonable and how profit levels compared with public data for other investment managers.

I considered whether DeAM and affiliates receive any significant ancillary or "fall-out" benefits that should be considered in interpreting the direct profitability results. These would be situations where serving as the investment manager of the Funds is beneficial to another part of the Deutsche Bank organization.

I considered how aggregated DWS Scudder Fund expenses had varied over the years, by asset class and in the context of trends in asset levels.

I reviewed the structure of the DeAM organization, trends in staffing levels, and information on compensation of investment management and other professionals compared with industry data.

Findings

Based on the process and analysis discussed above, which included reviewing a wide range of information from management and external data sources and considering among other factors the fees DeAM charges other clients, the fees charged by other fund managers, DeAM's costs and profits associated with managing the Funds, economies of scale, possible fall-out benefits, and the nature and quality of services provided, in my opinion the management fees charged the DWS Scudder Funds are reasonable.

Thomas H. Mack

Account Management Resources

For More Information	The automated telephone system allows you to access personalized account information and obtain information on other DWS funds using either your voice or your telephone keypad. Certain account types within Classes A, B, C and S also have the ability to purchase, exchange or redeem shares using this system. For more information, contact your financial advisor. You may also access our automated telephone system or speak with a DWS Scudder representative by calling the appropriate number below: For shareholders of Classes A, B, C and Institutional Class: (800) 621-1048 For shareholders of Class S: (800) 728-3337
Web Site	www.dws-scudder.com View your account transactions and balances, trade shares, monitor your asset allocation, and change your address, 24 hours a day. Obtain prospectuses and applications, blank forms, interactive worksheets, news about DWS funds, subscription to fund updates by e-mail, retirement planning information, and more.
Written Correspondence	DWS Scudder PO Box 219151 Kansas City, MO 64121-9151
Proxy Voting	A description of the fund's policies and procedures for voting proxies for portfolio securities and information about how the fund voted proxies related to its portfolio securities during the 12-month period ended June 30 is available on our Web site — www.dws-scudder.com (click on "proxy voting"at the bottom of the page) — or on the SEC's Web site — www.sec.gov. To obtain a written copy of the fund's policies and procedures without charge, upon request, call us toll free at (800) 621-1048.
Principal Underwriter	If you have questions, comments or complaints, contact: DWS Scudder Distributors, Inc. 222 South Riverside Plaza Chicago, IL 60606-5808 (800) 621-1148

	Class A	Class B	Class C	Class S	Institutional Class
Nasdaq Symbol	SDUAX	SDUBX	SDUCX	SDUSX	MGSFX
CUSIP Number	23339E 822	23339E 814	23339E 798	23339E 780	23339E 772
Fund Number	434	634	734	2334	557

Privacy Statement

This privacy statement is issued by DWS Scudder Distributors, Inc., Deutsche Investment Management Americas Inc., DeAM Investor Services, Inc., DWS Trust Company and the DWS Funds.

We never sell customer lists or individual client information. We consider privacy fundamental to our client relationships and adhere to the policies and practices described below to protect current and former clients' information. Internal policies are in place to protect confidentiality, while allowing client needs to be served. Only individuals who need to do so in carrying out their job responsibilities may access client information. We maintain physical, electronic and procedural safeguards that comply with federal and state standards to protect confidentiality. These safeguards extend to all forms of interaction with us, including the Internet.

In the normal course of business, clients give us nonpublic personal information on applications and other forms, on our Web sites, and through transactions with us or our affiliates. Examples of the nonpublic personal information collected are name, address, Social Security number and transaction and balance information. To be able to serve our clients, certain of this client information is shared with affiliated and nonaffiliated third-party service providers such as transfer agents, custodians, and broker-dealers to assist us in processing transactions and servicing your account with us. In addition, we may disclose all of the information we collect to companies that perform marketing services on our behalf or to other financial institutions with which we have joint marketing agreements. The organizations described above that receive client information may only use it for the purpose designated by the DWS Scudder Companies listed in the first paragraph of this Privacy Statement.

We may also disclose nonpublic personal information about you to other parties as required or permitted by law. For example, we are required or we may provide information to government entities or regulatory bodies in response to requests for information or subpoenas, to private litigants in certain circumstances, to law enforcement authorities, or any time we believe it necessary to protect the firm.

Questions on this policy may be sent to:

DWS Scudder
Attention: Correspondence — Chicago
P.O. Box 219415
Kansas City, MO 64121-9415

September 2007

Notes

Notes

Notes

Notes

Notes

Notes

Notes

ITEM 2.	CODE OF ETHICS
	Not applicable.
ITEM 3.	AUDIT COMMITTEE FINANCIAL EXPERT
	Not applicable.
ITEM 4.	PRINCIPAL ACCOUNTANT FEES AND SERVICES
	Not applicable.

ITEM 5.	AUDIT COMMITTEE OF LISTED REGISTRANTS
	Not Applicable
ITEM 6.	SCHEDULE OF INVESTMENTS
	Not Applicable
ITEM 7.	DISCLOSURE OF PROXY VOTING POLICIES AND PROCEDURES FOR CLOSED-END MANAGEMENT INVESTMENT COMPANIES
	Not applicable.
ITEM 8.	PORTFOLIO MANAGERS OF CLOSED-END MANAGEMENT INVESTMENT COMPANIES
	Not applicable.

ITEM 9.	PURCHASES OF EQUITY SECURITIES BY CLOSED-END MANAGEMENT INVESTMENT COMPANY AND AFFILIATED PURCHASERS
	Not Applicable.

ITEM 10.	SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS
	The primary function of the Nominating and Governance Committee is to identify and recommend individuals for membership on the Board and oversee the administration of the Board Governance Guidelines. Shareholders may recommend candidates for Board positions by forwarding their correspondence by U.S. mail or courier service to Chairman of the Board, P.O. Box 100176, Cape Coral, FL 33910.
ITEM 11.	CONTROLS AND PROCEDURES
	(a)        The Chief Executive and Financial Officers concluded that the Registrant’s Disclosure Controls and Procedures are effective based on the evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report.
	(b)        There have been no changes in the registrant’s internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal controls over financial reporting.

ITEM 12.	EXHIBITS
	(a)(1)   Certification pursuant to Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)) is filed and attached hereto as Exhibit 99.CERT.
	(b)       Certification pursuant to Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)) is furnished and attached hereto as Exhibit 99.906CERT.

Form N-CSRS Item F

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

Registrant: DWS Short Duration Fund, a series of DWS Advisor Funds

By: /s/Michael G. Clark

Michael G. Clark

President

Date: July 2, 2008

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

Registrant: DWS Short Duration Fund, a series of DWS Advisor Funds

By: /s/Michael G. Clark

Michael G. Clark

President

Date: July 2, 2008

By: /s/Paul Schubert

Paul Schubert

Chief Financial Officer and Treasurer

Date: July 2, 2008

EX-99.CERT

President

Form N-CSRS Certification under Sarbanes Oxley Act

I, Michael G. Clark, certify that:

1. I have reviewed this report, filed on behalf of DWS Short Duration Fund, a series of DWS Advisor Funds, on Form N-CSRS;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

July 2, 2008	/s/Michael G. Clark
	Michael G. Clark
	President
	DWS Short Duration Fund, a series of DWS Advisor Funds

Chief Financial Officer and Treasurer

Form N-CSRS Certification under Sarbanes Oxley Act

I, Paul Schubert, certify that:

1. I have reviewed this report, filed on behalf of DWS Short Duration Fund, a series of DWS Advisor Funds, on Form N-CSRS;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the second fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

July 2, 2008	/s/Paul Schubert
	Paul Schubert
	Chief Financial Officer and Treasurer
	DWS Short Duration Fund, a series of DWS Advisor Funds

EX-99.906CERT

President

Section 906 Certification under Sarbanes Oxley Act

I, Michael G. Clark, certify that:

1. I have reviewed this report, filed on behalf of DWS Short Duration Fund, a series of DWS Advisor Funds, on Form N-CSRS;

2. Based on my knowledge and pursuant to 18 U.S.C. § 1350, the periodic report on Form N-CSRS (the “Report”) fully complies with the requirements of § 13 (a) or §15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

July 2, 2008	/s/Michael G. Clark
	Michael G. Clark
	President
	DWS Short Duration Fund, a series of DWS Advisor Funds

Chief Financial Officer and Treasurer

Section 906 Certification under Sarbanes Oxley Act

I, Paul Schubert, certify that:

1. I have reviewed this report, filed on behalf of DWS Short Duration Fund, a series of DWS Advisor Funds, on Form N-CSRS;

2. Based on my knowledge and pursuant to 18 U.S.C. § 1350, the periodic report on Form N-CSRS (the “Report”) fully complies with the requirements of § 13 (a) or § 15 (d), as applicable, of the Securities Exchange Act of 1934 and that the information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company.

July 2, 2008	/s/Paul Schubert
	Paul Schubert
	Chief Financial Officer and Treasurer
	DWS Short Duration Fund, a series of DWS Advisor Funds