The market may have had a disappointing start to the month, but I wouldn't let that put you off investing.
In fact, the recent pullback has arguably created a buying opportunity for investors.
Three growth shares that I would buy this month with a long term view are listed below:
Altium Limited (ASX: ALU)
I think this electronic design software company could be a great buy and hold investment option. This is because I believe its leading position in a growing industry puts it in a great position to grow its earnings at a strong rate over the next decade. Management is targeting 100,000 active subscribers of its flagship product, Altium Designer, by 2025. Not only would its revenues have increased significantly if it achieves this, but management believes it will compel key stakeholders within the manufacturing and supply chain industry to support its agenda to transform electronic design and its realisation.
Appen Ltd (ASX: APX)
Another top buy and hold option could be Appen. It is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence. While its shares are expensive after an incredible rally over the last 12 months, I feel that patient investors could still do very well from a long-term investment if the company continues to grow along with the machine learning and AI markets. Both markets are forecast to grow at an explosive rate over the next decade.
Corporate Travel Management Ltd (ASX: CTD)
In August Corporate Travel Management delivered a 14% lift in revenue to $372.2 million and a 34% increase in underlying net profit after tax to $86 million. The good news is that I feel this strong form can continue for some time to come thanks to its long runway for growth. For example, although the company is generating sizeable revenues, it is worth noting that management estimates that it has only has a 15% share of the ANZ market, a 2% share of the Asia market, and under 1% of both the European and US markets.
