The Motley Fool

Where to invest $10,000 in ASX shares in November

With interest rates at record lows and potentially heading even lower in the coming months, if I had $10,000 sitting in a bank account I would consider putting it to work in the share market instead.

After all, the potential returns on offer are far greater than the paltry interest rates being offered by banks these days.

Here are three top shares I would consider buying in November:

Appen Ltd (ASX: APX)

I think Appen would be a good option for that $10,000. This is because I remain confident the data solutions and services company is well-positioned to continue growing its earnings at a strong rate for many years to come. Increasing demand for its services from the artificial intelligence and machine learning markets led to Appen delivering underlying EBITDA of $46.3 million in FY 2019. This was an increase of 81% on the prior corresponding period. With these markets expected to grow materially over the next decade, I expect Appen to benefit greatly given its leadership position.

Lendlease Group (ASX: LLC)

If you’re looking for a combination of value and income then I think Lendlease would be worth considering. It is an international property and infrastructure group with operations in Australia, Asia, Europe and the Americas. It has been through a bit of a rough patch over the last couple of years, but looks to have turned a corner now. In fact, as of its last update, its development pipeline was approaching $100 billion in project value. If all goes to plan, this should support solid earnings and dividend growth for the foreseeable future. At present I estimate that its shares offer a fully franked 4% forward dividend yield.

Nanosonics Ltd (ASX: NAN)

A final option for that $10,000 could be Nanosonics. It is a leading infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes. I believe this high quality product has outstanding potential and could underpin solid earnings growth over the coming years. Especially given its massive global market opportunity, recurring revenues, and favourable guideline changes. Supporting this growth will be the launch of new products targeting unmet needs. If they are half as successful as the trophon EPR system, the future will be very bright for Nanosonics.

And if you have some funds leftover, then I would put them in one of these dirt cheap growth shares that have been rated as buys.

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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 Nanosonics Limited. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Nanosonics Limited. 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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