This afternoon the Reserve Bank will make a decision on the cash rate. While there is speculation that rates could go to zero today, I'm not overly convinced this will be the case.
However, what I am convinced about, is that rates will remain at ultra low levels for a long time to come.
In light of this, if I had $5,000 in a savings account and no immediate use for it, I would invest it into the share market.
Three top ASX 200 shares I would buy right now with these funds are named below:
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). It has a team of over one million crowd-sourced experts preparing the data for the models of some of the world's biggest tech companies. This is a vital part of the process and demand for its services is growing very strongly. And given the importance of AI and machine learning for big business, I expect this to be the case for a long time to come. In light of this, I believe Appen is well-placed to deliver strong earnings growth over the next decade.
Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat Leisure share price has fallen heavily this year because of the pandemic. While its performance has inevitably been impacted by the crisis, I believe the selloff has been overdone. Especially given how I expect the gaming technology company to bounce back strongly when the crisis passes. This is due to its industry-leading poker machines and its growing digital business. The latter is experiencing very favourable tailwinds right now and is generating material recurring revenues.
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a growing financial technology company which offers a range of solutions to the wealth management and funds administration industries. While the company has a number of products in its portfolio, I'm most positive on the Sonata wealth management platform. This next generation wealth management platform has been a key driver of Bravura Solutions' growth over the last few years. The good news is that I expect more of the same in the future thanks to it sizeable market opportunity.
