Investec Asset Management strategist Michael Power’s advice is simple.

Invest in Australia, Asia and the Middle East because Asia is where the global economy’s growth will occur while Australia and the Middle East have the resources Asia needs, says Power.

Don’t invest in Europe and the U.S., with the exception of companies such as Unilver, LVMH, Coca-Cola and IBM, he says.

Australia’s central bank should address the country’s two-speed economy by devaluing the currency, says Power.

The strong Australian dollar is making some businesses uncompetitive while pushing the cost of goods and services to ridiculous levels, he says.

“I was charged $45 to have a shirt laundered on the weekend at a Sydney hotel,” says Power. “That shows the currency is far too strong.”

Australia’s market may soon no longer take their cue from Wall Street but Asia, he says.

“The rhythm of the world is about to be different,” says Power.

Investec manages about $US94 billion globally.

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