I'm a big fan of investing in growth shares. These are shares that are expected to deliver higher than average levels of earnings growth for an extended period.
Lucky for me, the Australian share market is not short of quality in that regard.
Three that I think are the arguably the best on the market right now are listed below. Here's why I rate them highly:
A2 Milk Company Ltd (ASX: A2M)
I think that this infant formula and dairy company could be the ultimate growth share on the local market. Thanks largely to the insatiable demand for its infant formula in the Chinese market, it has been growing earnings at an explosive rate. Whilst I think its shares are close to being fully valued now, I believe there's still significant upside ahead for them in the long-term. This could make it a good option for patient buy and hold investors.
Aristocrat Leisure Limited (ASX: ALL)
This gaming technology company is another growth share that I think investors ought to consider snapping up today. While I do think its core pokie machine business is strong and will provide it with reasonable growth in the future, it is the company's digital gaming segment that has me most excited. Thanks to a couple of major acquisitions I believe this segment will one day become Aristocrat Leisure's main breadwinner. These acquisitions have added a number of popular mobile and social games to its burgeoning portfolio which I expect to boost its recurring revenues greatly.
Nextdc Ltd (ASX: NXT)
I believe that an investment in NEXTDC is a great way for investors to gain exposure to the cloud computing thematic. The company's data centres are some of the highest quality centres in the world and have unsurprisingly attracted an A-list clientele. Demand for its services continues to grow from both new and existing customers, putting it in a great position to grow its earnings at an above-average rate for the foreseeable future.
