The outlook for interest rates in Australia and globally over the coming few years is looking very bleak.
In light of this, if I had $10,000 sitting in a savings account, I would be looking to put it to work in the share market.
But where should you invest $10,000? Three outstanding ASX shares I would buy are listed below:
Altium Limited (ASX: ALU)
The first ASX share to look at buying is Altium. It is the electronic design software company behind the popular Altium Designer and Altium 365 platforms. It also has a number of other related businesses such as the NEXUS team-based PCB workflow solution and the Octopart electronic parts search engine. Due to its exposure to the rapidly growing Internet of Things (IoT) and artificial intelligence (AI) markets, I believe Altium is perfectly positioned to deliver strong long term earnings growth. This could make it a great place to invest $10,000 today.
BetaShares Asia Technology Tigers ETF (ASX: ASIA)
Another option to consider investing $10,000 into is the BetaShares Asia Technology Tigers ETF. This exchange traded fund provides investors with exposure to a large number of the fastest growing tech companies in the Asia market. These companies are revolutionising the lives of billions of people and appear well-positioned for robust long term growth. Among the fund's largest holdings are the likes of ecommerce giant Alibaba, search engine company Baidu, and WeChat owner, Tencent. Overall, I feel confident their positive growth outlooks could lead to the BetaShares Asia Technology Tigers ETF providing strong returns for investors during the 2020s.
SEEK Limited (ASX: SEK)
A final ASX share to look at investing $10,000 into is job listings giant SEEK. While the pandemic means that trading conditions in the ANZ market are tough at present, I believe the Federal Budget will help create jobs and give listing volumes a big boost in 2021 and beyond. However, that's not the key reason I would invest. The main attraction to the company for me is its growing Chinese operation. I believe this business has the potential to underpin strong growth and help SEEK achieve its aspirational revenue target of $5 billion later this decade. This compares to FY 2020's revenue of $1,577.4 million.
