If you’re looking to add a few ASX 200 blue chip shares to your portfolio in June, then the three listed below could be worth considering.
I believe these blue chip shares have the potential to generate solid returns for investors over the next few years. Here’s why I would buy them:
Commonwealth Bank of Australia (ASX: CBA)
The first blue chip share to consider buying is Commonwealth Bank. I think it would be a great option for investors that don’t already have exposure to the banking sector. This is because I believe it is the highest quality bank in Australia and well-positioned for growth once the headwinds it is facing ease. And with its shares offering an estimated fully franked yield of at least 5% in FY 2021, it is also a handy source of income in this low interest rate environment.
Goodman Group (ASX: GMG)
Another ASX blue chip share to consider buying is Goodman Group. It is an integrated commercial and industrial property group with a high quality portfolio of assets. I’m a big fan of Goodman because its properties are exposed to industries benefiting from structural tailwinds like ecommerce. Given how these assets are likely to be in demand for many years to come, I believe it is well-positioned for solid long term growth.
SEEK Limited (ASX: SEK)
A final ASX blue chip share to consider buying is SEEK. While times are hard now, I think the job listings giant could still be a market beater over the next decade. This is due to the quality of its ANZ business and its growing China-based Zhaopin business. The latter contributed 47.8% of total revenue during the first half of FY 2020. This compares to the ANZ business, which accounts for 25.6% of its revenue. Given how lucrative the China market is, I’m confident Zhaopin can drive strong growth for SEEK for many years to come.
One trick to potentially generating life-changing wealth from the stock market is to buy early-stage growth companies when their share prices still look dirt cheap.
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* Extreme Opportunities returns as of June 5th 2020
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Motley Fool contributor James Mickleboro owns shares of SEEK Limited. The Motley Fool Australia has recommended SEEK Limited. 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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