NEW YORK (TheStreet) -- For those looking to diversify their stock portfolios, Riad Younes, manager of the RSQ International Equity Fund has three stock picks that provide exposure to different parts of the world, including Mexico, other parts of Latin America and South Africa.
He told TheStreet's Gregg Greenberg that he likes America Movil (AMX - Get Report) . The company, which previously had a monopoly-like grip within Mexico, has spun off assets and split up parts of its business in order to avoid punishment from regulators.
"The moves done by the management are very good for the shareholders in the future," Younes said, adding that he sees a lot of the company's growth coming from Latin America.
He is also bullish on Cemex (CX - Get Report) . Although the company isn't profitable in its current state and doesn't pay a dividend, its ability to increase its cash position while reducing debt from previously ill-timed acquisitions is impressive.
And while this cement company does have exposure to the U.S., "it's more like a turnaround story, as opposed to betting on a huge cyclical boom in the U.S. economy," Younes said.
His last pick is a play on South Africa. Although the continent is likely to suffer a short-term economic slowdown due to the Ebola breakout, investors can feel comfortable buying the wireless provider MTN Group (MTNOY) .
Being long the stock gives investors exposure to South Africa, while the company has a "very dynamic and good management," Younes said.
-- Written by Bret Kenwell in Petoskey, Mich.