Interest rates are at record lows and are likely to remain that way for years to come.
In light of this, I continue to believe that investors would be better off putting any excess funds into the share market rather than leaving them to gather only paltry interest in a savings account.
But where should you invest these funds? Here are three top shares I would invest $5,000 into in May:
Coles Group Ltd (ASX: COL)
I think this supermarket operator could be a good option for investors. Although its shares have been on fire during the coronavirus pandemic, I still think they are good value for a long-term investment. This is due to Coles' solid growth prospects and attractive dividend policy. In respect to its growth prospects, I feel the company's focus on cost cutting through automation and efficiencies will support solid earnings growth over the next decade.
Kogan.com Ltd (ASX: KGN)
Another share to consider investing $5,000 into is Kogan. I think the fast-growing ecommerce company is well-placed for growth due to the continued rise in online shopping and the growing popularity of its Kogan-branded products and Marketplace. Its expansion into potentially lucrative verticals such as energy and mobile should also be supportive of its growth. Positively, Kogan has been a strong performer during the pandemic. It recently revealed that sales and gross profit were up over 50% during the month of March.
NEXTDC Ltd (ASX: NXT)
A final option to consider for that $5,000 investment is NEXTDC. I remain confident the data centre operator is positioned perfectly to capitalise on the cloud computing boom which continues to accelerate. According to global technology research firm Gartner, it has forecast that 80% of all organisations will shift their workloads to third-party data centres by 2025. I expect this to lead to increasing demand for its innovative data centre outsourcing solutions and support solid earnings growth as it scales.
