Where to invest $10,000 in ASX 200 shares in March

Australia and New Zealand Banking Group (ASX:ANZ) shares are one of three that I would buy with $10,000 this month…

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On Tuesday the Reserve Bank of Australia will meet for the second time this year and decide on the cash rate.

The general consensus is that the central bank will hold firm with rates this month but could be destined to cut them in the coming months.

In light of this, if I had $10,000 sitting in a savings account, I would consider putting it to work in the share market rather than leaving it to gather only paltry interest.

Especially considering how over the last five years the ASX 200 has provided an average annual return of approximately 7.1%. This is vastly superior to anything you'll receive with savings accounts or term deposits.

With that in mind, here are three shares I would invest this $10,000 into:

Australia and New Zealand Banking Group (ASX: ANZ)

If you don't already have meaningful exposure to the banking sector then I think it would be well worth considering the shares of ANZ. Although its shares have rallied strongly over the last 10 weeks, I still see a lot of value in them at this level. Especially given its strong capital position and exposure to a business lending market which is performing well. In addition to this, the bank's shares currently offer a trailing fully franked 5.7% dividend yield.

Aristocrat Leisure Limited (ASX: ALL)

I think that this leading gaming technology is a great example of growth at a reasonable price (GARP). At present Aristocrat Leisure's shares are changing hands at 20x estimated forward earnings, which I think is great value considering the strength of its core pokie machine segment and fast-growing digital segment. With the social and mobile gaming markets tipped to grow strongly over the next decade, I expect the digital segment to be a key driver of growth for the company in the coming years. At the last count it had 8.1 million daily active users.

Webjet Limited (ASX: WEB)

This online travel agent could be another great option for that $10,000 investment. Last month Webjet announced its half year results and revealed a 29% increase in total transaction value to $1.9 billion, a 33% lift in revenue to $175.3 million, and a 42% jump in EBITDA to $58 million. And while its shares have rallied strongly after the release of these results, they still trade at a very attractive 25x estimated full year earnings. I think this is good value given its strong long term growth prospects.

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia has recommended Webjet Ltd. 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 Scott Phillips.

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