If you’re looking to invest $2,000 evenly across a couple of growth shares, then you might want to take a look at the ones listed below.
Combined, I believe these ASX growth shares could turn those funds into something much larger over the next decade. Here’s why I think they are in the buy zone:
Aristocrat Leisure Limited (ASX: ALL)
I think this gaming technology company could be a great long term option. Although the pandemic has hit the company hard and it is experiencing declines in land-based unit sales and revenues generated from its daily fee model, I believe it is worth sticking with Aristocrat. This is thanks to its Digital segment, which has flourished during lockdowns and casino closures.
For example, during the first half of FY 2020, Aristocrat’s revenue increased 7% to $2.25 billion. This was driven by a 6% decrease in Land-based revenues and a 19% increase in Digital revenue. I’m optimistic that when conditions return to normal and both sides of the business are pulling together, the company’s growth will accelerate.
Bravura Solutions Ltd (ASX: BVS)
Another ASX growth share to consider buying is Bravura Solutions. It is a leading provider of software products and services to the wealth management and funds administration industries. It offers a number of quality products such as the world class Sonata wealth management platform, the Rufus transfer agency solution, the Garradin back office solution, and the recently acquired Midwinter financial planning software. The latter gives Bravura a new avenue for growth in an industry benefiting from structural tailwinds.
Combined I believe these quality products leave the company well-positioned in a very lucrative market. This could lead to the company delivering above-average earnings growth over the 2020s and make the Bravura share price a market beater over the period.
These 3 stocks could be the next big movers in 2020
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More reading
- 3 exciting ASX growth shares to buy with $3,000
- Leading brokers name 3 ASX shares to buy today
- Are you a growth investor? Then take a look at these exciting ASX shares
- 2 exciting ASX growth shares that could beat the market in the 2020s
- 3 top ASX tech shares to buy right now
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and 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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