The Motley Fool

Where to invest $20,000 in ASX shares in November

A new month is upon us, so what better time to consider making a few additions to your portfolio.

If you’re lucky enough to have $20,000 to invest in the share market, then here are three shares I would consider buying with these funds. Here’s why I rate them highly:

Afterpay Touch Group Ltd (ASX: APT) 

I think a recent pull back in this payments company’s share price has created a buying opportunity for investors in November. Although it is a high risk option, I think it is well worth adding a small holding to your portfolio if your risk profile allows. I continue to believe it has the potential to be a fantastic buy and hold option for investors due to the increasing popularity of buy now pay later as a payment method with both consumers and retailers.

Webjet Limited (ASX: WEB)

Webjet is a leading online travel agent. Its shares have come under significant pressure this year due to the Thomas Cook collapse and concerns over the threat of Google in the travel bookings industry. I think its shares have been oversold and this has left them trading at a very undemanding level. Based on its last close price, Webjet’s shares are changing hands at just 17x estimated FY 2020 earnings.

Xero Limited (ASX: XRO)

Another option for that $20,000 investment could be Xero. I think it could be a quality buy and hold investment due to its explosive growth potential. This is thanks to the opportunity its high quality business and accounting software has to become the platform of choice for small and medium sized businesses across the world. I’ve been very impressed with its progress over the last few years and feel confident this strong form can continue for a long time to come.

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James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of AFTERPAY T FPO. The Motley Fool Australia owns shares of Xero. 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.