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| Business CONTINUITY Plan |
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The 787 Fund Inc., AXA Enterprise Funds Trust and their distributing broker dealer, Enterprise Fund Distributors, Inc., (collectively “AXA Enterprise”), have developed a Business Continuity Plan (“BCP”) to respond to events that could significantly disrupt or impact their businesses. Since the timing and impact of a potentially significant business disaster or disruption (an “SBD”) cannot be predicted, AXA Enterprise will have to be flexible in responding to actual events as they occur. AXA Enterprise is providing you with this information regarding its BCP.
Contacting Enterprise
In the event of a SBD, customers may continue to utilize the current telephone numbers for information about retail accounts: (800) 386-3527 for customer service and (800) 821-9540 for automated account information. BFDS-Midwest, Inc., the transfer agent and service provider (referred to as “service provider”) for AXA Enterprise as described in the applicable prospectus, maintains these numbers. Customers may also continue to utilize (800) 432-4320 for marketing or literature requests. AXA Enterprise in Atlanta maintains this number, however, in the event of a SBD, it will be re-directed to the service provider.
In the event of a SBD, the service provider will continue to provide prompt access to funds and securities, enter orders and process other trade-related, cash, and security transfer transactions as described below.
BCP
AXA Enterprise plans to quickly recover and resume business operations after a significant business disruption and will respond by safeguarding employees and property, making a financial and operational assessment, protecting the firm’s books and records and allowing customers to transact business. The BCP is designed to permit the firm to resume operations as quickly as possible, depending upon the scope and severity of the significant business disruption.
The BCP addresses the following: data back up and recovery; all mission critical systems; financial and operational assessments; alternative communications with customers, selling firms, employees, and regulators; alternate physical location of employees; critical supplier, contractor, bank and counter-party impact; regulatory reporting; and assuring customers prompt access to their funds and securities if AXA Enterprise is unable to continue its business.
AXA Enterprise, along with its service provider, backs up important records in a geographically separate area. While each emergency situation poses unique problems based on external factors, such as time of day and the severity of the disruption, the service provider has advised AXA Enterprise that their objective is to restore their own operations and be able to complete existing transactions and accept new transactions and payments within 48 hours. Orders and requests for funds and securities could be delayed during this period.
Varying Disruptions
Significant business disruptions can vary in scope and could affect AXA Enterprise solely, the single building which houses the AXA Enterprise office, the business district where the firm is located, the city where AXA Enterprise is located or the entire region. In addition, within each of these areas, the severity of the disruption can also vary from minimal to severe. In the event of a disruption to AXA Enterprise, the building housing the office or a disruption affecting our business district, city, or region, AXA Enterprise will transfer calls and if necessary, certain personnel, to the service provider. In this instance, AXA Enterprise expects to recover and resume business within twenty-four hours. AXA Enterprise plans to continue in business and will make notifications through its web site at www.axaenterprise.com or the customer service numbers listed above. If the significant business disruption is so severe that it prevents AXA Enterprise from remaining in business, AXA Enterprise will assure customer’s prompt access to their funds and securities.
For More Information
If you have questions about the BCP, you can contact us at Enterprise Fund Distributors, Inc., 3343 Peachtree Road, Suite 450, Atlanta, GA 30326 or e-mail us.
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