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Assignment 12.4. Managing Endowment FundsMeasured by Total Real Return - You are the executive director of a bio-tech research nonprofit organization. Your nonprofit has a

Assignment 12.4. Managing Endowment FundsMeasured by Total Real Return - You are the executive director of a bio-tech research nonprofit organization. Your nonprofit has a true endowment fund and you worked with your board to establish a set of investment policies. The fund has been managed well in accordance with federal and state laws and donor intent. During the course of a year, the permanent endowment fund performed so well that the value of the assets increased substantially in real terms. Instead of being praised for the great job you have done, you are criticized by the medical community, and questioned even by some donors, for not investing enough in developing vaccines to combat the new Covid-19 virus. What would you say and do in response? Why?

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