Do you have $10,000? I think ASX shares are the perfect place to invest it.
I believe ASX shares are a great way to grow your wealth with minimal effort. But in this coronavirus era we need to be careful. I'd only want to buy shares with good prospects that will be fine if there's a worse-than-expected downturn.
Here are long-term ASX shares I'd go for:
Bubs Australia Ltd (ASX: BUB) – $2,000
Bubs is an exciting infant formula business which specialises in goat milk products. Just like previously successful infant formula businesses, Bubs is growing revenue strongly in Asia. Both China and Vietnam are generating good growth right now for Bubs.
The ASX share is steadily adding new products, including an organic grass-fed cow infant formula product which may also prove to be popular.
Growth is accelerating due to the coronavirus and Bubs generated a positive operating cashflow in the last quarter. It's in a strong position.
MFF Capital Investments Ltd (ASX: MFF) – $3,500
MFF Capital is a listed investment company (LIC). It's run by the high-performing Chris Mackay who has recently moved almost half of the portfolio to cash. So at the moment MFF Capital is a good hedge against another US share market fall which could easily happen because of what's going with the pandemic and riots.
ASX shares are great, but globally there are some fantastic businesses to be invested in like Visa and Mastercard. It's these types of businesses that will benefit from the shift to online shopping.
Pushpay Holdings Ltd (ASX: PPH) – $3,000
Pushpay is an electronic donation business. At the moment its focus is facilitating donations from congregations at medium and large US churches.
There is a strong demand for digital giving right now due to the social distancing measures in the US. That's partly why management are expecting earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) to approximately double in FY21.
Pushpay is one of my favourite ASX shares at the moment because of how much growth it could achieve over the long-term. It's targeting a $1 billion revenue opportunity in the US church sector. There are other countries and other not-for-profit areas it can grow in.
Brickworks Limited (ASX: BKW) – $1,500
The Brickworks share price has climbed 23% since the middle of May, so I don't think it's as good value now as a few weeks ago. But I think it's still compelling.
The value of its Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) shares continues to grow. Its 50% stake in the industrial property trust will be even more important because of the shift to ecommerce.
The ASX share could be a beneficiary from the government's plan to encourage house building and large renovations, which would really help the Australian building products division. I think construction could recover quicker than some expect.
Foolish takeaway
I believe all four of these ASX shares have a good chance of beating the market over the next four years. I like the optionality that MFF Capital provides with its large cash balance, but Pushpay and Bubs could also grow into quite large businesses over time.
