I think one of the best ways for investors to grow their wealth is to make long term investments in quality shares with strong business models and equally strong growth prospects.
Three shares that I think could provide outsized returns for their shareholders are listed below. Here's why I like them:
a2 Milk Company Ltd (ASX: A2M)
One of my favourite growth shares on the local share market is this fresh milk and infant formula company. I think its shares could generate strong returns for investors over the next few years thanks largely to the increasing demand for its infant formula products in the massive China market. I expect this growing demand and its strong pricing power to underpin above-average earnings growth for the foreseeable future.
Cochlear Limited (ASX: COH)
Another growth share that I would buy is Cochlear. I believe the ageing population tailwind has positioned the global developer, manufacturer, and distributor of cochlear implantable devices for the hearing impaired perfectly for long term growth. This is because the burgeoning number of people that will be over the age of 65 over the next couple of decades is expected to lead to consistently strong demand for hearing solutions and could drive above-average earnings growth for Cochlear.
WiseTech Global Ltd (ASX: WTC)
A third and final growth share to consider buying is WiseTech Global. I think the logistics solutions company is a great long term option thanks to the quality of its CargoWise One platform. This single-platform software solution has quickly established itself as a key part of the global supply chain. It provides an enterprise-class management system for logistics companies across 130 countries. And although its shares are expensive, I remain confident that its long term earnings growth will more than justify this premium.
