This afternoon the Reserve Bank will make a decision on the cash rate. While there is speculation that rates could go to zero today, I’m not overly convinced this will be the case.
However, what I am convinced about, is that rates will remain at ultra low levels for a long time to come.
In light of this, if I had $5,000 in a savings account and no immediate use for it, I would invest it into the share market.
Three top ASX 200 shares I would buy right now with these funds are named below:
Appen Ltd (ASX: APX)
Appen is a leading developer of high-quality, human annotated datasets for machine learning and artificial intelligence (AI). It has a team of over one million crowd-sourced experts preparing the data for the models of some of the world’s biggest tech companies. This is a vital part of the process and demand for its services is growing very strongly. And given the importance of AI and machine learning for big business, I expect this to be the case for a long time to come. In light of this, I believe Appen is well-placed to deliver strong earnings growth over the next decade.
Aristocrat Leisure Limited (ASX: ALL)
The Aristocrat Leisure share price has fallen heavily this year because of the pandemic. While its performance has inevitably been impacted by the crisis, I believe the selloff has been overdone. Especially given how I expect the gaming technology company to bounce back strongly when the crisis passes. This is due to its industry-leading poker machines and its growing digital business. The latter is experiencing very favourable tailwinds right now and is generating material recurring revenues.
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a growing financial technology company which offers a range of solutions to the wealth management and funds administration industries. While the company has a number of products in its portfolio, I’m most positive on the Sonata wealth management platform. This next generation wealth management platform has been a key driver of Bravura Solutions’ growth over the last few years. The good news is that I expect more of the same in the future thanks to it sizeable market opportunity.
And if you have some funds leftover, these five recommendations below look like potential market beaters…
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More reading
- 3 ASX 200 resources shares to buy today
- 5 things to watch on the ASX 200 on Tuesday
- 3 ASX 200 tech shares to buy and hold beyond 2025
- Why Woolworths shares are offering a rare buying opportunity today
- In your 50s? Here are the 2 best ASX 200 shares to buy now
James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of Appen Ltd. The Motley Fool Australia has recommended Bravura Solutions 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.
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