New to investing? ASX growth shares to buy now

If you are new to investing, I recommend building a portfolio of 15 ASX shares as quickly as possible. Here are 5 ASX growth shares to start.

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If you are new to investing, it is important to quickly build a diversified portfolio of ASX stocks.

Holding at least 15 ASX stocks should reduce the volatility in your portfolio, as well as improve your chances of making money. Here is the growth third of a ready-built ASX stock portfolio to buy now:

BetaShares Asia Technology Tigers ETF (ASX: ASIA)

ASIA is on my list because it provides market capitalisation weighted exposure to a geographic location that will be an economic powerhouse long into the future. This diversification helps to balance my portfolio, whilst giving me access to fast growing innovative stocks such as Alibaba and Tencent.

Betashares Nasdaq 100 ETF (ASX: NDQ)

The Nasdaq 100 ETF is another foundational pillar of the portfolio along with ASIA. Along with additional geographic diversification, investors get access to some of the fastest growing and most innovative stocks that are changing the world. Personally, my best investments have come from the Nasdaq!

Kogan.com Ltd (ASX: KGN)

Kogan has been an amazing stock to own in 2020. The stock is up 158% year-to-date on the back of amazing results. Although a lot of this growth can be attributed to the COVID-19 pandemic, the long term trend towards and the growth of e-commerce is undeniable. Kogan's data-led approach puts it in a great position to be a market beater over the long term.

Nanosonics Ltd (ASX: NAN)

Nanosonics is a leader in the disinfection of ultrasound probes. The stock has been a long-term market beater and I think this will continue. Operating with the razor and blade business model, Nanosonics is successfully growing its installed base of Trophon and Trophon 2 machines. Nanosonics can then sell more high margin consumables products and boost profitability.

Resmed Inc. (ASX: RMD)

Resmed is a leader in the treatment of sleep apnea. Sleep apnea is a hugely underdiagnosed condition that can have significant impacts on your quality of life and your health. As the company and physicians educate more of us, I can see a greater adoption of Resmed's products.

Further, the move into data and internet connected devices should provide optionality in the future.

What about the other 10 shares?

Five ASX shares are not enough to constitute a long-term buy and hold portfolio. Keep an eye out for 5 more ASX growth shares and 5 dividend shares to complete your starter portfolio coming soon.

Lloyd Prout owns shares of BetaShares Asia Technology Tigers ETF, Nanosonics Limited, and ResMed Inc and expresses his own opinions. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of BETANASDAQ ETF UNITS and Kogan.com ltd. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF and Nanosonics Limited. The Motley Fool Australia has recommended BETANASDAQ ETF UNITS, Kogan.com ltd, and ResMed Inc. 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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