With some economists now predicting that the Reserve Bank of Australia will keep interest rates on hold until 2020, now could be an opportune time to consider putting your money to work in the share market.
If I had $10,000 sitting in a savings account I would consider investing it in one of these three ASX shares:
Aristocrat Leisure Limited (ASX: ALL)
I think that this gaming technology company is one of the best growth shares on the local market and trading at a very reasonable price considering its growth profile. As well as having a strong and growing core pokie machine business, the company has begun to grow its presence significantly in the social and mobile gaming market through a couple of sizeable acquisitions. I believe these acquisitions will provide it with a portfolio of games and a talented development team that will lead to above-average growth from the segment over the next decade.
Macquarie Telecom Group Ltd. (ASX: MAQ)
I think this provider of telecommunication and hosting services to corporate and government customers doesn't get the attention it deserves from the investment community. Especially considering the strong performance and growth potential of its data centre business. I think Macquarie Telecom is a cheaper alternative to market darling Nextdc Ltd (ASX: NXT), which I would also consider to be a buy today.
ResMed Inc. (CHESS) (ASX: RMD)
ResMed is a global healthcare company that specialises in the treatment of sleep apnoea and other chronic respiratory diseases. I think that RedMed could have a very bright future ahead of it thanks to its position as a market-leader in an industry which is expected to grow strongly over the long-term. I believe this puts it in a position to deliver above-average earnings growth and strong share price returns for shareholders for many years to come.
