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Buy these outstanding ASX 50 shares for strong potential returns

Although not widely followed by investors, the S&P/ASX 50 index is one of Australia’s most important large-cap equity indices.

It represents 50 of the largest and most liquid ASX shares by float-adjusted market capitalisation. These include some of the most well-known companies in the country.

And while I wouldn’t be investing in all the shares on the index, I think there are a handful that would be fantastic options for investors.

Two ASX 50 shares I would buy today are listed below:

CSL Limited (ASX: CSL)

My favourite ASX 50 share is this global biotherapeutics giant. I think CSL would be a quality long term investment option due to its in-demand therapies, growing plasma collection network, and its burgeoning product pipeline. The latter is underpinned by the company’s material investment in research and development (R&D) activities each year. CSL tends to invest somewhere in the region of 10% to 11% of sales into its R&D efforts. This resulted in the company investing a massive US$832 million in R&D across its businesses in FY 2019. And a similar level of investment will be made this year. I expect these investments to allow CSL to maintain its industry-leading position and support solid profit growth for years to come.

Goodman Group (ASX: GMG)

Another ASX 50 share to buy is Goodman Group. It is an integrated commercial and industrial property group which owns, develops, and manages high quality industrial real estate globally. Goodman Group’s portfolio has been expertly curated over the last few years to give it exposure to industries experiencing positive tailwinds such as ecommerce, logistics, food, consumer goods, and the digital economy. I’m particularly positive on its prospects due to its exposure to the rapidly growing ecommerce market. It achieves this with relationships with the likes of Amazon, DHL, and Walmart. All in all, I believe Goodman Group is well-placed to deliver solid earnings and distribution growth over the next decade. This could result in the Goodman Group share price generating market beating returns over the period.

Where to invest $1,000 right now

When investing expert Scott Phillips has a stock tip, it can pay to listen. After all, the flagship Motley Fool Share Advisor newsletter he has run for more than eight years has provided thousands of paying members with stock picks that have doubled, tripled or even more.*

Scott just revealed what he believes are the five best ASX stocks for investors to buy right now. These stocks are trading at dirt-cheap prices and Scott thinks they are great buys right now.

*Returns as of June 30th

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. The Motley Fool Australia has no position in any of the stocks mentioned. 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.

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