If you're a fan of investing in growth shares that have the potential to provide outsized returns, then you're in luck because the Australian share market is home to a large number of high quality ones to choose from.
Four that I think are worth considering this month are listed below:
Altium Limited (ASX: ALU)
One of my favourite growth shares is Altium. It is a printed circuit board (PCB) design software provider which looks set to profit greatly from the proliferation of the Internet of Things. This is because the majority of IoT devices have PCBs inside them, which is expected to lead to increasing demand for its award-winning software. In addition to this, the company's Octopart business has strong growth prospects and could support the core business.
Bravura Solutions Ltd (ASX: BVS)
Bravura is a leading provider of software and services to the wealth management and funds administration industries. I think it is attractively price given the positive outlook for the Sonata wealth management platform. Sonata has been growing at a very impressive rate over the last few years and looks well-placed to continue this thanks to the quality of the platform and its sizeable market opportunity.
Nearmap Ltd (ASX: NEA)
Another growth share that I would buy with a long-term view is Nearmap. It is a leading aerial imagery technology and location data company which has been growing at an exceptionally strong rate over the last few years. This continued in FY 2019 when the company reported record annualised contract value (ACV) of $90.2 million. This was a 36% increase year on year and was driven largely by further explosive growth in the United States.
WiseTech Global Ltd (ASX: WTC)
WiseTech Global is the logistics solutions company behind the CargoWise One platform. This single-platform software solution has become a key part of the global supply chain. It provides an enterprise-class management system for logistics companies across 130 countries. I believe that its long term earnings growth potential more than justifies the premium that its shares trade at.
