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.
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Returns as of 6th October 2020
James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns shares of and recommends Altium. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia has recommended SEEK Limited. 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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