For at least two mutual fund companies, disaster recovery plans saved the day when the two World Trade Center towers were destroyed two weeks ago. Both Fred Alger Management and OppenheimerFunds were up and running within hours after their investment offices were obliterated Sept. 11.

Foresight paid off for Fred Alger Management which occupied offices on the 93 floor of One World Trade Center. Despite the tragic death of the firm's president, David Alger, and 38 other members of the firm's investment staff, the company's full back office operations were switched over to the firm's Morristown, N.J., satellite office by the end of that day.

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