Following on from Monday's suggestions, here are 3 more share ideas for international diversification:
Amcor Limited (ASX: AMC)
Amcor is a global packaging giant producing rigid and flexible packing materials for use by its customers. 72% of its products are plastic, with 15% being fibre and 13% are aluminium. The majority (79%) are used in food, beverage, and tobacco packaging, with a further 14% used in Healthcare. A defensive business that earns around 35% of its income in US Dollars, 25% in Euros, and 40% in other currencies, Amcor is a straightforward way to globally diversify your portfolio, and also brings meaningful exposure to emerging economies in China and South America.
Cochlear Limited (ASX: COH)
Hearing aid giant Cochlear earns more than half of its earnings in the Americas, and just over a quarter from the Europe, Middle East, and Africa (EMEA) region, with the remainder coming from Asia-Pacific. Reporting in Australian Dollars, the company is a clear potential winner from a lower Australian dollar – and its small dividends come with the added benefit of franking credits.
All else being equal, a weaker Australian dollar will generally result in bigger profits for Cochlear – indeed it has been one of the primary drivers of the growth in Cochlear's share price in recent years.
Ramsay Health Care Limited (ASX: RHC)
This global private hospital operator has grown through a combination of expansion and acquisition, and has a long track record of growing profits and dividends. Ramsay earns just over 2/3rds of its earnings in the Asia Pacific region, and the remainder in the UK and France. Ramsay's Asia-Pacific earnings come primarily from Australia, although the company has a small but growing network of facilities in Asia.
Ramsay is currently too Australia-focused to make it ideal for diversifying internationally, in my opinion, although the growth in south Asia should bring the company many opportunities over the next 50 years.
