Ten miles south of downtown Atlanta, in an anonymous business center overlooking the airport, sits the headquarters of what, on paper, is a hedge-fund powerhouse.
The numbers coming out of the part-time office at One Hartsfield Centre are remarkable: annual returns of 13 percent, 24 percent, even 91 percent since 2013.
Clients aren’t quite sure how it’s done. And Joseph A. Meyer Jr., the man behind the obscure hedge fund, Arjun LP, is keeping his cards close. He says only that he employs a computerized system of his own design but invests most of his clients’ money in safe Treasury bonds.
Meyer is so confident in his approach that he offers an extraordinary guarantee: With Arjun, you will never lose money. His price of admission is steep, however. Investors must hand over their cash for a decade. If they exit early, Meyer keeps half the principal.
“I’ve got a spreadsheet that did the calculations,” Meyer, 49, says of his system. “And then I just got coders to code it, so that the computer’s coming up with it, ’cause I can’t, I couldn’t, manually do something like that.”
‘Multiple Irregularities’
A lot of things about Arjun might seem peculiar. Since 2013, for instance, it has employed no fewer than three different auditing firms. Brian Kemp, Georgia’s secretary of state, says his securities division has discovered “multiple irregularities” involving Arjun and its parent company, Statim Holdings Inc.
“Based on these irregularities, the division’s enforcement personnel immediately launched a formal investigation into potential violations of the Georgia Securities Act,” Kemp said in a statement to Bloomberg on July 11. “The investigation is ongoing at this time.”
Meyer’s legal counsel, Parth Munshi, says it’s all a misunderstanding, in particular because Statim believed it wasn’t required to submit to a surprise audit. He says Statim has retained a firm to conduct one.
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