At the weekend I looked at how investments of $20,000 in a number of ASX shares fared over the last 10 years.
Given the success of these investments, this morning I thought I would look at a few shares which I feel investors ought to consider investing $20,000 into today for the next decade.
Here why I think these three ASX shares could provide strong returns for investors:
Altium Limited (ASX: ALU)
I think this electronic design software platform provider could be a great place to invest $20,000 with a long term view. This is due to Altium's exposure to the Internet of Things (IoT) boom. This rapidly growing market should drive strong demand for its offering in the future as the majority of these devices require software like Altium Designer during the design process. Management appears confident in its outlook and is aiming for 100,000 subscriptions by FY 2025. This compares to the 50,000 subscriptions it is targeting this year. Combined with its other growing businesses, such as the Octopart search engine, I believe the future is bright for Altium.
Pushpay Holdings Group Ltd (ASX: PPH)
Another company which I think has a very bright future is Pushpay. It is a growing donor management platform provider for the faith and not-for-profit sectors. Pushpay has been growing at a rapid rate over the last few years thanks to the increasing adoption of its platform by churches in the United States. The good news is that management expects its strong growth to continue in FY 2021. It recently revealed that it expects to double its operating earnings in FY 2021. But it doesn't expect its growth to stop there. The company is aiming to capture 50% of the medium to large church market in the future. This is a US$1 billion revenue opportunity and many multiples of its current revenue.
Ramsay Health Care Limited (ASX: RHC)
A third ASX share to consider investing $2o,000 into is Ramsay Health Care. I think the leading private healthcare company would be a great long term option due to the quality of its global business and its positive long term outlook. The latter is thanks to the ageing populations tailwind, which is expected to drive very strong demand for healthcare services over the next couple of decades. And while trading conditions are tough right now, I believe it is worth dealing with the short term pain for the potential long term gains.
