If you're looking to add a few blue chip ASX shares to your portfolio this month, then you're in luck.
The ASX is home to a number of blue chips which I believe could generate market-beating returns for investors over the 2020s.
Two blue chip ASX shares that I would buy are listed below. Here's why I like them:
Coles Group Ltd (ASX: COL)
The first ASX blue chip share to consider buying today is this supermarket operator. Although its shares have been on fire this year, I still think they are good value for a long-term investment. Especially given its solid growth prospects and attractive dividend policy.
In respect to the former, I expect Coles' long track record of same store sales growth and its focus on cost cutting, automation, and efficiencies to underpin solid earnings growth over the next decade. And with the company aiming to pay out 80% to 90% of its earnings to shareholders, this bodes well for its dividend growth in the future. At present, based on the current Coles share price, I estimate that it offers a fully franked forward 3% dividend yield.
CSL Limited (ASX: CSL)
A second blue chip ASX share to buy is this global biotherapeutics company. Due to the quality of its portfolio of therapies and vaccines, its growing plasma collection network, strong demand for immunoglobulins, and its high level of research and development investment, I am confident that CSL can continue to deliver strong earnings growth for the foreseeable future.
Overall, I expect this to lead to market-beating returns again for shareholders over the next decade. It is also worth noting that the CSL share price has come under pressure this year due to the pandemic. As a result, if you were to invest today, you would be buying at 16% discount to its 52-week high.
