A new financial year is here and what better time to look at giving your portfolio a little lift with a few new additions.
Five top ASX shares which I'm tipping as market beaters this financial year are listed below. Here's why I like them:
Altium Limited (ASX: ALU)
Altium is an award-winning printed circuit board (PCB) design software provider which I feel is well-placed to outperform the market in FY 2020 and beyond. This is thanks to the quality of its products and its leading position in the fast-growing Internet of Things market.
Bravura Solutions Ltd (ASX: BVS)
Bravura Solution is a provider of software and services to the wealth management and funds administration industries. I'm a big fan of the company due to its leading Sonata wealth management platform which I believe has a significant global market opportunity. And with the company's shares down heavily from their 52-week high, now could be an opportune time to invest.
REA Group Limited (ASX: REA)
If the housing market bounces back in FY 2020 like many experts are predicting, then it could be a massive boost for this property listings company. If house prices start to rise, then it is likely to lead to strong listings growth and equally strong earnings growth.
SEEK Limited (ASX: SEK)
Another top share to consider buying this financial year is SEEK. The job listings company's shares have underperformed the market over the last 12 months due largely to its underwhelming guidance. However, the lack of profit growth this year is due to SEEK's heavy investment in its future growth. I expect a much stronger result in FY 2020 and for this to be reflected in its share price.
Webjet Limited (ASX: WEB)
This online travel agent is another company which I think has the potential to outperform in FY 2020. Especially with the company's numerous brands growing in popularity and Webjet benefiting from the continued shift to online booking. Another positive is the company's focus on expanding its margins materially.
