So you're looking to maximise the potential of a $10,000 investment in ASX growth shares? You've come to the right place.
ASX investors buy shares for different reasons. Some want to live off their investments, so they prioritise buying dividend stocks that pay them a regular income. Others want to build wealth as quickly and efficiently as possible and are more attracted to growth shares.
Growth shares might offer the fastest path to increased wealth, but like any investing strategy, they have potential pitfalls and traps.
So today, let's discuss two ASX growth shares that I personally believe will help me build wealth on the share market.
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2 ASX growth shares to maximise a $10,000 investment
First up we have MFF Capital Investments Ltd (ASX: MFF). MFF is a listed investment company (LIC) that specialises in quality American shares. It tends to hold large companies that have established business models, but retain long runways of growth in front of them. Some of its top holdings, which have been owned for many years, include Visa, Mastercard, American Express, Amazon and Meta Platforms.
I personally own MFF Capital and regard this company as one of my most reliable growth sources. I like the wide exposure to a range of growth shares that this investment offers, all under one roof. MFF shares have grown by an impressive 41.5% over the past 12 months alone and by almost 100% since mid-2022. Investors have also enjoyed a substantial (and rising) stream of dividend income over this period.
Putting all of this together, I think MFF Capital is a great ASX growth share that has the potential to maximise the potential of a $10,000 investment today.
Cybersecurity: A growth engine
Next up, let's talk about an exchange-traded fund. The BetaShares Global Cybersecurity ETF (ASX: HACK) is an exchange-traded fund (ETF) that I have long wanted to add to my portfolio for its growth potential. As its name implies, this fund offers exposure to a portfolio of global companies that are all leaders in the cybersecurity space.
I regard cybersecurity as one of the most obvious slam dunks in the global economy right now. With each passing year, the internet's importance to individuals, governments, and businesses grows. As more businesses and government services move online, the importance of protecting users also grows.
ASX investors, particularly those who've owned shares in companies like Medibank Private Ltd (ASX: MPL), know all too well the potential devastation that a successful cyber attack can wreak on a company's fortunes.
As such, I believe that individuals, governments, and companies will increasingly be willing to spend top dollar on preventing these attacks going forward. That makes this ETF a great ASX growth share investment.
Thanks to top holdings like Zscaler and Fortinet, HACK units have returned an average of 17.78% per annum over the past five years (as of 31 October). Given what we've just discussed, I have confidence that HACK investors will continue to enjoy outsized gains going forward. As such, I would also be happy to put forward this ASX growth share for a $10,000 investment right now.
