The Australian Dollar has been in the firing line for nearly eighteen months now, with Reserve Bank of Australia (RBA) head Glenn Stevens repeatedly stating that a '9' in front of the AUD-USD pairing is most likely 'the wrong number'.
Low interest rates and public announcements have put a few small scratches into the Aussie's gloss, but our dollar has remained resiliently strong, even as record-low rates have started a property boom and sent the share-market soaring.
Investors who suspect that our currency's next movement might be down, not up, are starting to look to ways to potentially profit from weakness in the AUD.
There are numerous ways to do this – including currency trading and owning foreign shares – but investors who are most comfortable investing in the ASX can also find a surprising number of companies with foreign exposure.
Here's a list of four promising ASX-listed companies that draw 100% of their earnings in foreign currency.
They are:
Astro Japan Property Group (ASX: AJA) – Japanese Yen
Astro Japan is a property trust paying a smidgeon under 4% in dividends – unfortunately investors have flocked to this share since my article a month ago.
With a strong portfolio centred in Tokyo comprised primarily of retail and office tenements, Astro's properties are in high demand and the company is trading at a 23% discount to Net Tangible Assets.
It is joined by Galileo Japan Trust (ASX: GJT), a riskier investment that has so far escaped investor notice and remains unchanged since being published in the same article last month.
Yielding 8.3% and trading at a 22% discount to Net Tangible Assets, Galileo looks pretty appealing to investors with a greater appetite for risk.
Macquarie Atlas Roads Limited (ASX: MQA) – US Dollar, Euro, Great Britain Pounds
Macquarie Atlas is another company investors flocked to as soon as the AUD weakened, rising over 40% in the past year.
While it's not the great purchase it would have been back in October, a Macquarie Atlas investment remains viable thanks to growing traffic along its toll roads and the comparatively steady nature of its earnings.
However its dividend of 2.9% has become quite measly in recent months and looks unlikely to rapidly improve thanks to strong investor interest and slow earnings growth.
Not a great investment at present, it is nevertheless deserving of a place on your foreign currency watch-list.
Westfield Corp (ASX: WFD) – 74% US/ 26% UK
After a half-year results presentation which happily met the new entity's prospectus, Westfield Corp's international arm continues to look like a strong investment for foreign-currency exposure.
A strong full year dividend appears likely and impressive expansion plans in the UK and Eurozone are likely to generate significant Euro earnings and weight the portfolio more evenly among the three primary currencies it has exposure to.
Making (and finding) the right investment at the right time – before the wider market moves – is certainly a solid strategy to grow your wealth in times of economic flux.
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