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Where to invest $1,000 in ASX shares this month

If you’re just starting out with investing you may not have substantial funds to sink into the market.

But I wouldn’t let that put you off. After all, as has been demonstrated here, even an investment of $1,000 has the potential to grow significantly over the long-term.

With that in mind, here are three shares that I think would be great long-term options for investors:

Afterpay Touch Group Ltd (ASX: APT)

I think this payments company would be a good option for that $1,000 investment. Last week the company held its AGM and revealed that it has started FY 2020 in style. The buy now pay later provider has smashed expectations with underlying sales and customer number growing at a staggering rate so far in FY 2020. Due to the growing popularity of its platform with both consumers and retailers and its massive global market opportunity, I still believe Afterpay can grow materially from here over the next decade.

ResMed Inc. (ASX: RMD)

Another option for these funds could be ResMed. The global medical device company is one of my favourite buy and hold options on the ASX. This is due to its leadership position in the growing sleep treatment market. I believe it has outstanding long term growth potential thanks to the proliferation of obstructive sleep apnoea (OSA). A recent presentation suggests less than 20% of OSA sufferers have been diagnosed or treated.

Serko Ltd (ASX: SKO)

If you’re okay with investing in small cap shares then I think Serko would be worth considering. It is an online travel booking and expense management provider which has been growing at a very strong rate over the last couple of years. Pleasingly, I believe it is well-positioned to continue doing so thanks to strong demand, its growing recurring revenues, and the recently announced extended partnership with travel giant Booking.com.

And here are three more options for that $1,000 investment that could provide strong returns for investors over the next decade.

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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 and Serko Ltd. The Motley Fool Australia has recommended ResMed Inc. and Serko 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.

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