Buy Aussie Stocks with Exposure to US, UK: Strategist

Lucinda Chan, divisional director at Macquarie Private Wealth, is adding stocks to her portfolio, in particular those that will ride the upturn in more developed economies such as the U.S. and the UK.

"We believe we are now going through a very deep cycle of recovery. In the U.S. market, there has been a much slower move than Australia," said Chan on CNBC Asia Pacific’s Protect Your Wealth. “But the general trend is up for that market and naturally it is the right time now to move into the global markets.”

Chan recommended Australian companies that have strong exposure to these overseas markets, such as Brambles and building materials firm James Hardie.

“With housing numbers and consumer sentiment improving over there, we're going to see some very strong improvements in their operating margins,” she explained.

Chan added that it is a suitable time now for investors to move into the property sector, including REITs.

“With recent capital raising, they have certainly improved. I think without a doubt, there will probably be a little bit more but the bulk of the capital raising has already been done.

Westfield Group ranked on her shopping list, as the retail property giant has seen strong improvements in earnings.

“They have exposure again in the U.S. and UK markets, which have had a severe downturn. We're seeing a bit of a lift out there again, helping to shift some of the earnings across the market. Naturally, we're going to buy that,” Chan said.

Big diversified utilities, healthcare and telcos were also on her radar. She gave global miners BHP Billiton and Rio Tinto the thumbs-up, as they have “very strong operations and have very diversified asset components in commodities."

As for financials, Chan favored banks with good exposure to offshore markets, and found ANZ and NAB quite cheap.

“I guess we have seen a lot of the worse case scenarios in payment charges. That's already come through the markets. Going forward, banks still have very solid earnings. At the end of the day, good strong dividends should come out."

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Catch "Protect Your Wealth" on CNBC's Asia Pacific network every Tuesday on "CNBC's Cash Flow," Wednesday on "Asia Squawk Box" and Thursday on "Capital Connection."