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How I would spend $5,000 on top ASX shares today

With the last day of trading for the week underway, it’s your last chance to execute any trades that might have been on your mind before the weekend. Investing is one of those activities (like going to the dentist) that seems to come last on everyone’s priority list.

Still, with the markets making new all-time highs, it might be a good time to get some additional money into the markets before next week. Here’s where I would deploy an additional $5,000 into ASX shares today

WAM Global Ltd (ASX: WGB)

WAM Global is a listed investment company (LIC) that focuses on finding undervalued growth companies with no limit on which country they might be in. I think this means this company is a great stock to own in your portfolio, as most ASX investors wouldn’t otherwise be able to invest in companies like American Express, Diageo and Airbus – all top holdings in WAM Global’s current portfolio.

WGB has achieved a 15.1% return over the past year, which is also encouraging. This LIC has also just paid its first dividend of 2 cents per share, which I expect to rise substantially over time.

MFF Capital Investments Ltd (ASX: MFF)

MFF is another LIC that typically invests in the top businesses available in the US markets. These currently include Visa, Mastercard, Bank of America, Home Depot and Coca-Cola. MFF has delivered exceptional returns for its shareholders over the past decade, partly due to its focus on buying top notch businesses and just holding them for the long-term.

Since the start of 2019 alone, MFF shares have risen 32.8%, which I expect will keep rising alongside the general stock market. Its history of stellar performance and its ability to hold fantastic American companies makes MFF a great investment choice, in my opinion.

Foolish takeaway

If you’re looking for LICs with international exposure and a solid track record of performance, I think you can’t go wrong with WAM Global and MFF Capital today. I hold both in my personal portfolio and will continue to do so for the foreseeable future.

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Motley Fool contributor Sebastian Bowen owns shares of Magellan Flagship Fund Ltd and WAMGLOBAL FPO. The Motley Fool Australia has no position in any of the stocks mentioned. 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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