If you're looking to invest $2,000 evenly across a couple of growth shares, then you might want to take a look at the ones listed below.
Combined, I believe these ASX growth shares could turn those funds into something much larger over the next decade. Here's why I think they are in the buy zone:
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Bravura Solutions Ltd (ASX: BVS)
The first ASX growth share to consider buying is Bravura Solutions. It is a leading provider of software products and services to the wealth management and funds administration industries. It offers a number of quality products such as the world class Sonata wealth management platform. This popular wealth management platform allows advisers to connect and engage with clients via computers, tablets, or smartphones.
It also has the Rufus transfer agency solution, the Garradin back office solution, and the recently acquired Midwinter financial planning software. The latter gives Bravura a new avenue for growth in an industry benefiting from structural tailwinds. Overall, I believe these quality products leave the company well-positioned in a very lucrative market. This could lead to the company delivering above-average earnings growth over the 2020s and make the Bravura share price a market beater over the period.
Xero Limited (ASX: XRO)
I think Xero is a growth share to consider buying right now. It is one of the world's leading cloud-based business and accounting software providers which has been growing at a rapid rate over the last few years. This certainly was the case in FY 2020 results when Xero revealed further strong growth in sales and operating earnings. This was driven by stellar customer growth, price increases, and its sky high retention rate.
The good news is that Xero still has a very long runway for growth over the next decade. This is thanks to its global expansion and particularly its opportunity in the United States. At the end of FY 2020, Xero had just 241,000 subscribers in the North American market. This compares to 914,000 subscribers in a significantly smaller ANZ market.
