If you have $3,000 to invest into ASX growth shares, then I would suggest you consider putting these funds into the ones listed below.
Here’s why I think they could provide strong returns for investors over the next decade:
BetaShares NASDAQ 100 ETF (ASX: NDQ)
If you would like to invest in a group of high quality growth shares in a single investment, then you might want to consider the BetaShares NASDAQ 100 ETF. This popular fund gives investors access to 100 shares trading on the legendary NASDAQ 100 index. Among its holdings you’ll find the likes of Amazon, Apple, Facebook, Microsoft, Netflix, and Google parent, Alphabet. I believe these companies have very bright futures ahead of them. This bodes well for the performance of Nasdaq 100 over the 2020s.
Nearmap Ltd (ASX: NEA)
Nearmap is a leading aerial imagery technology and location data company. It gives businesses instant access to high resolution aerial imagery, city-scale 3D datasets, and integrated geospatial tools. This means that users of its software can undertake site visits from the comfort of their home or workplace, which can offer significant time and cost savings for users. Thanks to the quality of its offering, particularly its latest AI product, I believe it is well-placed to capture a growing slice of this fragmented market over the next decade.
NEXTDC Ltd (ASX: NXT)
Another top growth share to consider buying is NEXTDC. It is an innovative data centre operator which owns a collection of world class centres in key locations across Australia. NEXTDC has experienced very strong and growing demand for its services in recent years. This has underpinned solid earnings growth over the last few years. This was particularly the case in FY 2020 when NEXTDC delivered a 23% increase in EBITDA to $104.6 million. Pleasingly, with demand expected to continue growing at a rapid rate for some time to come due to the cloud computing boom, I expect more of the same from NEXTDC over the next decade.
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More reading
- Why we’re on track for more record ASX share prices
- Why it makes sense to invest in ASX tech shares
- Top ASX Stock Picks for September 2020
- Leading brokers name 3 ASX shares to buy today
- Why Costa, Harvey Norman, NEXTDC, & Splitit shares are charging higher today
James Mickleboro owns shares of NEXTDC Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of BETANASDAQ ETF UNITS and Nearmap Ltd. The Motley Fool Australia 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.
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