MENU

3 growing shares to boost your portfolio in the new financial year

Credit: Neil

As we rapidly approach the halfway point in 2016 I feel now is as good a time as any to take a moment to check up on your portfolio and prepare it for a strong second half and the new financial year.

With the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) trading down by just less than one percent since the turn of the year, it has clearly been a tough market to operate in.

So if your portfolio is in need of a lift in the second half then I would suggest taking a look at these three growth shares which I believe could be set for a strong finish to the year.

Aconex Ltd (ASX: ACX)

This software-as-a-service company has been making waves this year receiving upgrade after upgrade from some of the biggest investment banks around the world. Most recently Morgan Stanley slapped a $10 price target on the shares, according to Dow Jones Newswires. Its popular cloud collaboration platform for the global construction industry has been growing its user organisations at a very strong rate, and recent acquisitions could be the catalyst for an acceleration of its overseas expansion plans.

Ramsay Health Care Limited (ASX: RHC)

I believe this health care service provider is one of the best shares on the S&P/ASX 200 and would make a great addition to most portfolios today. Due to it having 221 hospitals across six countries, 25,000 beds, and 50 years’ experience in the industry, I feel Ramsay Health Care is positioned perfectly for long-term growth. In a recent company presentation management stated that it saw demand growing due to ageing populations, increased chronic disease burden, and improvements in treatment and diagnostic methods.

TPG Telecom Ltd (ASX: TPM)

Shareholders of TPG Telecom have been having a great 2016 thanks to the company’s continued strong performance. In its interim results TPG Telecom delivered underlying half year EBITDA growth of 56% to $368.8 million. This fantastic form looks set to continue with management providing full year underlying EBITDA guidance of $770 million to $775 million. I believe mobile phones will be a real growth driver for the company moving forward. According to research by Kantar, TPG Telecom has a disappointing 2% share of the total mobile market. I don’t believe its founder and CEO David Teoh will be satisfied with this level of market share and would not be surprised to see the company make an approach for Vodafone Australia before the year is out.

Finally, for the purpose of balancing out your portfolio I believe it is worth considering teaming these growth shares up with some great dividend shares. These five fantastic dividend shares could well be the best you will find on the ASX today. If you get chance I'd highly recommend getting better acquainted with them today.

Why retirees LOVE these 5 ASX stocks

Discover The Motley Fool's top 5 ASX dividend stock ideas for 2016 to get you started building a more diversified income portfolio that is paying you back! Click here to learn more.

The report is free! No credit card required.

Motley Fool contributor James Mickleboro has no position in any stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

Two New Stock Picks Every Month!

Not to alarm you, but you’re about to miss a very important event! Chief Investment Advisor Scott Phillips and his team at Motley Fool Share Advisor are about to reveal their latest official stock recommendation. The premium “buy alert” will be unveiled to members and you can be among the first to act on the tip.

Don’t let this opportunity pass you by – this is your chance to get in early!

Simply enter your email now to find out how you can get instant access.

By clicking this button, you agree to our Terms of Service and Privacy Policy. We will use your email address only to keep you informed about updates to our website and about other products and services we think might interest you. You can unsubscribe from Take Stock at anytime. Please refer to our Financial Services Guide (FSG) for more information.