With interest rates barely keeping up with inflation, if I had $10,000 sitting in a bank account I would consider investing it in the share market.
After all, the potential returns on offer are vastly superior to anything you'll find with savings accounts or term deposits.
But where should you invest these funds? I think the three ASX shares listed below could be great options for that $10,000 investment:
CSL Limited (ASX: CSL)
I think this biotherapeutics company would be a great option for that $10,000. I believe CSL is one of the highest quality companies on the Australian share market and well-placed for solid growth over the coming years. This is thanks to the strong demand for immunoglobulins, its growing plasma collection network, and the increasing utilisation for secondary immunodeficiencies. And while its shares may look expensive on paper, they are actually trading at a discount to many of its global peers.
Nearmap Ltd (ASX: NEA)
Another top option for that $10,000 could be Nearmap. It is an aerial imagery technology and location data company with operations in the ANZ and North American markets. The company has been growing strongly in both markets over the last couple of years and looks well-positioned to continue this trend in FY 2020. This is thanks to increasing demand, its leadership position, and the release of new products. Management recently provided an update and revealed that it expects its annualised contract value (ACV) to be in the range of $116 million to $120 million in FY 2020. This implies growth of 28.6% to 33% on FY 2019's ACV of $90.2 million.
Webjet Limited (ASX: WEB)
A final option to consider for that $10,000 is Webjet. I think the online travel booking company would be a great place to invest thanks to its strong long term growth potential. This is largely down to its fast-growing WebBeds business and its Rezchain blockchain solution. Combined, the two are playing a key role in expanding its margins. As a result, Webjet is on track to deliver its profitability target of "8/4/4" by FY 2022. This essentially means a lofty EBITDA margin of 50%. I expect this, the continued shift to online booking, and its popular brands, to lead to above-average growth over the next decade.
