As I mentioned here at the weekend, the Westpac Banking Corp (ASX: WBC) economic team is not ruling out negative interest rates in Australia.
While I’m not certain we will see rates fall into negative territory, I’m positive they will stay at ultra low levels for a long time to come.
In light of this, if you have $10,000 sitting in savings accounts, I would suggest you consider looking for superior returns in the share market.
But where should you invest it? Here are three top shares that I would buy with these funds:
BetaShares NASDAQ 100 ETF (ASX: NDQ)
I think the BetaShares NASDAQ 100 ETF could be a good option for a $10,000 investment. It provides Australian investors with exposure to Wall Street’s famous NASDAQ 100 index. This index comprises the 100 largest non-financial shares on the NASDAQ and includes household names such as Amazon, Facebook, and Microsoft. I believe the majority of the companies on this index have the potential to grow at a quicker rate than the global economy. As a result, I expect the BetaShares NASDAQ 100 ETF to provide investors with strong returns for many years to come.
Nearmap Ltd (ASX: NEA)
Another top option for a $10,000 investment could be Nearmap. It is a leading aerial imagery technology and location data company. Last week the company released a market update which revealed that its annualised contract value (ACV) had hit $102 million financial year to date. This means the company is on course to achieve its FY 2020 ACV guidance of $103 million to $107 million. While this is a large number, it is nothing compared to the market opportunity it has in the countries it operates in. This is estimated to be worth $2.9 billion per year. Given the quality of its technology, I believe it is well-placed to capture a big slice of this market.
NEXTDC Ltd (ASX: NXT)
A final option to consider investing $10,000 into is NEXTDC. It is a leading Data Centre-as-a-Service provider with operations in key locations across Australia. I believe it is well-placed for strong long term earnings growth thanks to the seismic shift to the cloud. Especially given its recent $672 million equity raising which will strengthen its balance sheet and fund its strategic expansion plans.
And if you have some funds leftover, these five recommendations below look like potential market beaters…
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More reading
- I don’t normally buy ETFs, but I would buy these 2
- How bankable are the big four ASX bank shares in 2020?
- Why Nearmap’s share price surged by 50% in May
- ASX 200 Weekly Wrap: Surging bank shares push ASX toward 6,000
- Here’s how ANZ, CBA, NAB, & Westpac performed in May
Motley Fool contributor James Mickleboro owns shares of NEXTDC Limited and Westpac Banking. The Motley Fool Australia owns shares of and has recommended BETANASDAQ ETF UNITS and Nearmap Ltd. 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.
The post Where to invest $10,000 into ASX shares immediately appeared first on Motley Fool Australia.
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