A Boutique Investment Management Firm

Providing investment advisory solutions for institutional and private clients

Market Perspective

Current View 11/21/2022

Today’s data showing a continued rising trend in jobless claims, an ongoing slump in consumer confidence and expectations, and a further slide in the purchasing manager indices across both the manufacturing and service sectors of the economy increases our conviction that the economy is moving toward a recession next year following the surge in inflation and interest rates this year.  The yield curve is deeply inverted, which has accurately foreshadowed past recessions.  Longer term Treasury yield have stabilized in recent weeks as inflation data moderated and economic growth indicators have disappointed.  Equity markets have jumped on reduced inflation fears, but that relief will likely prove to be temporary as recessionary conditions are likely to weaken earning expectations for the coming year

Investment Solutions

Portfolios are actively managed to achieve investment performance excellence.  We utilize a full suite of investment tools, asset classes, and security types to enhance income and total return, manage volatility, limit downside, and maintain liquidity.

Highly customized approach structured to address client’s income requirements, liquidity needs, risk tolerance and total return expectations. 

An active equity strategy that seeks to outperform the broad equity market over the long term, while generating superior income with less volatility. 

An active fixed income strategy that seeks to generate superior income and total return performance relative to the broad domestic bond market. The strategy generates additional income through utilizing covered call strategies and/or adopting cash secured put-write strategies.

This strategy provides investors an alternative to a traditional asset allocation approach by allocating to asset classes and securities based on our macro views and expected returns over a tactical horizon. The objective is to outperform an allocation mix of 60% stocks and 40% bonds with smaller periodic drawdowns, less volatility and low correlation to markets throughout a market cycle.

Our Team

Mark Austin

Principal, Chief Executive Officer

Mark has worked extensively with pension funds, endowments, foundations, corporate funds, and high net worth investors in a variety of business development, client service, and product management capacities in his over 30-year career in the capital markets, Mark’s experience spans a range of asset classes, including domestic and international equity, fixed income, private equity, real estate, infrastructure, and liquid alternatives.
Prior to founding Liniam Capital, Mark was a Managing Director at North Sky Capital and has held positions at FAF Advisors/US Bank, Piper Capital Management, and Investment Advisers, Inc. He also served as the President of the North Hennepin Community College Foundation.
Mark earned his MBA from the University of St. Thomas and his B.S. from the University of Minnesota.

Keith Hembre, CFA

Principal, Chief Investment Officer

Keith is a seasoned investment professional with more than 25 years of experience in leadership roles within the investment management industry. Prior to joining Liniam he was the Chief Economist and Investment Strategist at Nuveen Asset Management and at FAF Advisors/US Bank prior to that. In these roles he was responsible for leading the Quantitative Strategies Teams at those firms that were responsible for managing asset allocation, absolute return, equity options and index products and strategies. He has a passion for economic and market analysis, has served on the Economic Advisory Committee for the American Bankers Association and was named the most accurate economic forecaster by BusinessWeek magazine in 2007.
He holds the Chartered Financial Analyst designation, a B.A. in economics from the University of Minnesota and an M.S. in economics from Baylor University, and completed the program on Investment Decisions and Behavioral Finance at Harvard University.