Business Continuity Policies

Succession Planning

• Team processes with specified backup portfolio managers

Disaster Recovery Plan

• Formalized in mid 1980s
• Successfully implemented twice (1993 and 2001)
• Updated and reviewed quarterly
• Tested three times per year

Physical Plant Continuity

• Diversified among five locations: Colorado; Rochester, NY; New York, NY; Pennsylvania; Massachusetts
• All locations have redundant power and telecommunications systems
• Technology enables access to critical systems from all offices and homes of portfolio managers and management team

Data/Systems Continuity

• Two tier system: data monitoring and backup tapes (in Colorado and New Jersey)
• Tapes serve as backup to mirroring process
• Store daily, monthly and yearly backup tapes in third party offsite locations
• All Denver data mirrored to Philadelphia for additional layer of security
• Auto backup every ten minutes from New York to Colorado of all investment and trading data
• All institutional files mirrored in Pennsylvania and Massachusetts offices