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Industry: Email Alert RSS FeedMeyer Melnikoff; Retired senior vice president and actuary, Prudential Insurance Co.(P&I at 30: The difference-makers)(Biography)
Pensions & Investments, October, 2003 by Jacobius, Arleen
Byline: Arleen Jacobius After a successful 10-year quest to win the right for insurance companies to invest in equities, Meyer Melnikoff, who was an actuary and pension executive at Prudential Insurance Co. of America, developed the Property Investment Separate Account, which single-handedly legitimized real estate as a pension fund investment asset class.
PRISA, Mr. Melnikoff told Pensions & Investments in a 1993 interview, was created to offer pension funds an investment that was not correlated with stocks and bonds. He thought that such diversification was especially important during periods of inflation, which was looming on the horizon in the late 1960s. He began developing the pooled real estate fund in 1967, having gotten the idea from an article he...
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