Invest $1,000 today in these ASX shares

If you're looking to invest $1,000 in ASX shares today then I think these two would make great investments.

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The recent bear market may have investors worried. And I can sympathise. Watching ASX share prices fall without knowing when they will stop can be daunting. However, remember that when you buy ASX shares you are buying a piece of ownership in a company.

History has taught us that market falls like these give rise to great opportunities. Being a Foolish investor (capital F) and maintaining a long-term view during a time of market crisis can be a great opportunity to build wealth over the long term. After all, many ASX shares are trading far lower today than they were a couple of months ago. 

With that in mind, if you're looking to invest $1,000 in ASX shares today then I think the following two would make great investments.

MFF Capital Investments Ltd (ASX: MFF)

MFF Capital is a listed investment company (LIC) which diversifies its investments internationally. The company looks for attractively priced growth prospects and in recent years, has been 'buying the dips'. This wisdom has benefitted MFF's portfolio value in the periods after the GFC, and I believe it can do so again after this market crisis settles.

MFF Capital has large holdings in Visa, Mastercard, Alphabet (parent of Google) and many large American banks including JP Morgan and Wells Fargo

I believe now is a great time to buy as it currently trades at a more attractive price relative to its net tangible assets (NTA). Historically, MFF Capital has traded closer to its pre-tax NTA value than its post-tax NTA value. However, it recently announced a pre and post-tax NTA value of $2.996 and $2.498 respectively as at 27 March.

At a share price of $2.68 today, MFF shares are currently trading closer to their post-tax value and lower than they have historically. Not to mention the portfolio has probably also followed the US markets higher over the last few days since the announcement.

Bapcor Ltd (ASX: BAP)

Shares of the automotive parts dealer have been smashed during this market selloff. As a result, Bapcor shares are still down around 40% from February highs of over $7.

The Bapcor share price sunk to a low last week after the company announced a business update with regards to COVID-19. Prior to store closures, Bapcor noted that it was on track to meet its previous full-year guidance. However, with the announcement of business closures in New Zealand, Thailand and Australia, the company has withdrawn its previously announced earnings guidance.

In light of this, I think Bapcor's more recent acquisitions of Truckline and Diesel Drive will still continue to perform well as many trucks are kept running. Both of these businesses specialise in the sale of truck spare parts.

This aligns with a statement by Bapcor's CEO, Darryl Abotomey, who last week said: "Bapcor's businesses provide a critical service for the community in ensuring that replacement and service parts are available for cars and trucks, including emergency services vehicles."

With its shares still significantly down, I think today would be a great time to invest in Bapcor for the long term.

Suzanne Frey, an executive at Alphabet, is a member of The Motley Fool’s board of directors. Michael Tonon owns shares of Bapcor. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Alphabet (A shares), Mastercard, and Visa. The Motley Fool Australia owns shares of and has recommended Bapcor. The Motley Fool Australia has recommended Alphabet (A shares) and Mastercard. 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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