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Have $500 to invest? Then buy these 5 ASX 200 shares immediately

If you’re looking to invest $500 into the share market, then I would suggest you think long-term.

This is because brokerage costs will eat into your profits if you are constantly buying and selling. 

But which shares should you buy with this $500? I think the five ASX 200 shares listed below would be great options:

Altium Limited (ASX: ALU)

Altium is an electronic design software provider. I believe it is one of the best long term options on the ASX due to the Internet of Things boom. The rise of connected devices is driving increasingly strong demand for its Altium Designer software and shows no signs of slowing. In addition to this, it has other businesses, such as Octopart, that are growing quickly and supporting its growth.

BHP Group Ltd (ASX: BHP)

If you’re looking for exposure to the resources sector then I would pick BHP. This is due to its diversified, world class operations and favourable commodity prices. Overall, I believe it is well-placed to deliver a bumper profit result and return significant funds to shareholders again.

CSL Limited (ASX: CSL)

Another favourite of mine is CSL. Due to the quality and strong long term growth potential of both its CSL Behring and Seqirus businesses, I think this biotherapeutics giant could be a market-beater in the 2020s. And while its shares may appear expensive, this is almost always the case. Importantly, this hasn’t stopped its shares generating significant wealth for investors over the last decade.

Nanosonics Ltd (ASX: NAN)

Another option to consider is Nanosonics. It is a leading infection control specialist behind the industry-leading trophon EPR disinfection system for ultrasound probes. This product has a sizeable global market opportunity and I expect it to underpin strong earnings growth in the future. Supporting this growth will be the upcoming launch of new products, which are understood to have similar market opportunities.

Xero Limited (ASX: XRO)

A final share to consider buying is Xero. As the business and accounting software provider is quickly becoming the platform of choice for small and medium sized businesses across the globe, I believe it is well-positioned for strong long term growth. And while subscriber growth may be subdued during the pandemic, I expect a rebound once the crisis passes.

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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 CSL Ltd., Nanosonics Limited, and Xero. The Motley Fool Australia owns shares of Altium. The Motley Fool Australia has recommended Nanosonics Limited. 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.