The S&P/ASX 100 index is home to some of Australia's biggest and brightest companies.
Whilst I wouldn't be in a rush to invest in all of the shares on the index, there are a number which I believe are great buy and hold investment options right now.
Here are three ASX 100 shares I like:
CSL Limited (ASX: CSL)
The first ASX 100 share that I would buy is this biotherapeutics giant. I've been very impressed with the way CSL has consistently delivered strong profit growth over the last decade. The good news is that there's no sign of this trend ending anytime soon after its positive form continued in FY 2020. And with demand for immunoglobulins products remaining strong and the company possessing a potentially lucrative pipeline of new products, I believe this trend will continue for a long time to come and drive the CSL share price notably higher over the 2020s.
NEXTDC Ltd (ASX: NXT)
The newest member of the ASX 100 is NEXTDC. It was deservedly added to the index at the latest rebalance. NEXTDC is a technology company providing innovative data centre outsourcing solutions, connectivity services, and infrastructure management software. Its partner ecosystem hosts Australia's largest independent network of carriers, cloud, and IT service providers. This allows NEXTDC's customers to source and connect with cloud platforms, service providers, and vendors to build integrated hybrid cloud deployments and scale their IT infrastructure and services. I feel the quality of its centres and the cloud computing boom have put NEXTDC in a position to grow its earnings at a strong rate over the next decade. I expect this to lead to the NEXTDC share price outperforming the ASX 100 over the period.
ResMed Inc (ASX: RMD)
A final ASX 100 share to consider buying is this medical device company. It has a portfolio of cloud-connected devices treating people with sleep apnoea, chronic obstructive pulmonary disease, and other chronic diseases. Demand for its industry-leading devices has been very strong in recent years, underpinning stellar earnings growth. The good news is that the sleep treatment market is tipped to grow rapidly over the next decade, which I believe puts ResMed in a position to continue growing its earnings at an above-average rate for some time to come.
