At present the Westpac Banking Corp (ASX: WBC) economic team is continuing to forecast the cash rate staying on hold at the record low of 0.25% until at least 2022.
I think there is a strong probability that this forecast will prove accurate, which means we will all have to brace for ultra-low rates staying around for some time to come.
In light of this, if you have $10,000 sitting in savings accounts and no immediate use for it, I would suggest you consider looking for superior returns in the share market.
But where should you invest these funds? Here are two top ASX shares that I would buy:
BetaShares Asia Technology Tigers ETF (ASX: ASIA)
I think investors ought to consider putting $10,000 into the BetaShares Asia Technology Tigers ETF. This exchange trade fund gives investors access to 50 of the most exciting technology companies in the Asian market (excluding Japan). These include search engine company Baidu, dominant ecommerce companies Alibaba and JD.com, electronics giant Samsung, and WeChat owner Tencent Holdings. The latter is also a major Afterpay Ltd (ASX: APT) shareholder.
As these companies are revolutionising the lives of billions of people in the region, I believe they are exceptionally well-placed for growth in the 2020s. In light of this, I feel very confident the BetaShares Asia Technology Tigers ETF will outperform the ASX 200 index for the foreseeable future.
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. In May the company released a market update which revealed that its annualised contract value (ACV) had hit $102 million financial year to date. This means it is on course to comfortably achieve its FY 2020 ACV guidance of $103 million to $107 million.
The good news is that this is still only scratching at the surface of its current market opportunity. Management estimates this to be worth $2.9 billion per year at present. Given the quality of its technology and the highly fragmented market that it operates in, I believe it is well-placed to capture a big slice of this market. This could put the Nearmap share price in a position to generate strong returns for investors over the 2020s.
3 “Double Down” Stocks To Ride The Bull Market
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More reading
- Why Audinate, Nearmap, Resolute, & TechnologyOne shares are tumbling lower
- ASX 200 up 0.4%: Banks lower, Newcrest impresses, Coca-Cola Amatil jumps
- 3 quality ETFs I would be adding to my ASX portfolio
- Why Nearmap and 2 other ASX tech shares are surging higher today
- ASX 200 jumps 1.15%: BHP Q4 update, tech shares rocket higher
James Mickleboro owns shares of Westpac Banking. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Nearmap Ltd. The Motley Fool Australia owns shares of and has recommended BetaShares Asia Technology Tigers ETF. The Motley Fool Australia owns shares of AFTERPAY T FPO. The Motley Fool Australia has recommended 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 Got $10,000 to invest? I would buy these ASX shares appeared first on Motley Fool Australia.
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