Do you have $4,000 to invest? I think that there are a few ASX shares that could be perfect buys right now in the current economic conditions.

Some shares are back to their pre-coronavirus highs even though they’re facing some potential troubles this year. I think these shares could be good opportunistic buys today:

iShares S&P Global 100 (ASX: IOO)

This is an exchange-traded fund (ETF) which invests in 100 of the biggest businesses in the world, no matter which country they come from. It’s invested in shares like Microsoft, Facebook, Alphabet, Amazon, Nestle, LVMH, Novartis and so on.

Many of the best businesses are located outside of Australia, we can’t directly invest in them on the ASX like we can with ASX shares. But it’s still possible to indirectly buy them on the ASX.

As a group I think the biggest 100 businesses, whichever names make up that list, will get bigger and more economically powerful over time.

I think it could be a good time to buy this ETF because the Aussie dollar has gotten a lot stronger. It’s good to buy international shares when Aussies have stronger buying power.

Brickworks Limited (ASX: BKW)

Investors are very pessimistic about the construction industry right now. And rightly so – a downturn is expected in the coming months. But I don’t think construction will be permanently be in the doldrums. So I believe it’s a good time to be a contrarian investor for this side of the ASX share’s business.

However, I think Brickworks is a very dependable business because of its other assets. The value of its Washington H. Soul Pattinson and Co. Ltd (ASX: SOL) shares and its 50% stake of the industrial property trust more than makes up the Brickworks market capitalisation. Those two assets provide solid cashflow, will allow Brickworks to pay a reliable dividend to shareholders until construction returns.

Pushpay Holdings Ltd (ASX: PPH)

Pushpay is one of the most promising growth ASX shares right now. The electronic donation business predominately services large and medium US churches. At the moment there is an accelerated shift to digital giving away from cash giving. This is really benefiting Pushpay.

The company is now expecting that earnings before interest, tax, depreciation, amortisation and foreign currency (EBITDAF) to double in FY21. That’s impressive growth in just one year. And there could be plenty of growth in the years ahead for this ASX share.

Over the longer-term it’s targeting a $1 billion revenue opportunity. That’s a large market for an ASX share.

Bubs Australia Ltd (ASX: BUB)

Bubs is another infant formula business which is starting to grow strongly overseas. It has a growing portfolio of products to sell to customers. Quarter on quarter revenue is growing at very impressive double digit numbers.

What I’m particularly attracted to at the moment is how much growth there is in ‘other markets’. In other words, markets away from China. Vietnam alone is proving to be an exciting market for Bubs. The huge Chinese market can be a blessing or a curse depending on how companies play it, and how they’re treated by China. 

Bubs generated a positive operating cashflow in the March 2020 quarter. If it can keep generating a positive cashflow each quarter from here then it’s an even more attractive ASX share than it was a few months ago.

Foolish takeaway

I’m a fan of all four of these ASX shares. I believe Bubs and Pushpay have great prospects for the next few years. Meanwhile, Brickworks looks very cheap for a recovery buy. I’d buy all of them for my portfolio. 

More reading

• If the ASX 200 crashes again, which shares should you sell?
• Should you ever buy into an ASX IPO?
• 3 ASX dividend shares to diversify your income
• 3 exciting ASX growth shares to buy in June
• 2 ASX shares that are absurdly cheap right now

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