Are you looking to buy some quality ASX options for long-term growth?

With the current share market volatility, some investors may be thinking that investing in shares is too risky.

However, I think it’s important to keep in mind share market volatility does happen from time to time.

Shares also have the advantage of providing capital gains, provided that you have a long-term investment horizon.

Also, dividend-paying ASX shares can set you up with a handy additional stream of income along the way.

So, with that said, here are two of my current top picks for long-term growth.

Commonwealth Bank of Australia (ASX: CBA)

Our big 4 ASX banks have had a difficult few months.

There all have witnessed major share price decline due to the impact of lockdown restrictions caused by the coronavirus pandemic. 

However, the outlook of our big 4 banks appears a bit brighter, with restrictions now beginning to ease.

Commonwealth Bank is my pick of the big four retail ASX banks right now.

I prefer it to rivals: Westpac Banking Corp (ASX: WBC), National Australia Bank Ltd. (ASX: NAB) and Australia and New Zealand Banking Group Ltd (ASX: ANZ). 

I believe the Commonwealth Bank share price was sold off a bit too harshly over the past few months.

It tumbled from $91.05 in mid-February to end below $60 earlier this week. However, its share price has regained a bit of ground over the past week.

I think the bank is well-positioned to deliver relatively solid long-term growth, driven by a recovering housing market, once lockdown restrictions are further eased.

This provides long-term investors with a good buying opportunity in my mind.

Telstra Corporation Ltd (ASX: TLS)

Australia’s largest telecommunication provider has witnessed strong demand for its services throughout the pandemic.

Both its mobile and fixed broadband offerings provide essential services to businesses and consumers. There’s been a sharp increase in usage with many Australians being forced to work from home.

Also, more people are keeping in touch with family and friends online, or increasing their usage of streaming media services like Netflix.

In a recent market update, Telstra revealed that it is on track to achieve most of the goals that form part of its T22 strategy. This includes reducing underlying fixed costs by $2.5 billion annually by the end of FY22.

Telstra also announced that it will increase its overall network capacity and accelerate the rollout of its 5G network.

I feel that Telstra was, to some degree, unfairly caught up in the wider market sell-off in recent months.

I believe that this now provides a good buying opportunity for ASX buyers with a long-term investment horizon.

More reading

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Motley Fool contributor Phil Harpur owns shares of Australia & New Zealand Banking Group Limited, Commonwealth Bank of Australia, Telstra Limited, and Westpac Banking. The Motley Fool Australia owns shares of and has recommended Telstra 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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I generally prefer to invest in ASX growth shares rather than their dividend-paying cousins. As a long-term shareholder, ASX growth shares enable me to benefit from tax-free compounding over many years. With dividend shares, however, you are required to pay tax every time you receive a dividend. So even if those dividends are reinvested, this occurs using after-tax dollars.

With this in mind, below are 3 exciting ASX growth shares I believe to be buys next week.

Avita Medical Ltd (ASX: AVH)

Avita Medical develops and markets a range of respiratory and regenerative medical products. The first product Avita brought to market was a spray-on skin treatment used for burns victims named ‘Recell’. In addition to being TGA approved in Australia, Recell is FDA approved in the USA and CE-marked in Europe.

Avita recently released results for the March quarter, which were its strongest since launching in the US. This quarter saw its total revenue jump 67% over the prior corresponding period. This is boosted to an 84% revenue increase when the time frame is extended to the 9 month period ending 31 March 2020.

Avita has largely been insulated from the coronavirus-led economic fallout. This is predominantly because treatment for burns patients tends to be neither elective or deferrable. Furthermore, the company is looking to use the Recell system to treat vitiligo and has plans to submit an application to the FDA in June 2020.

Nearmap Ltd (ASX: NEA)

I can’t go past Nearmap when it come to ASX growth shares. The Aussie aerial imagery and data insights company has been consistently growing its subscriber base, particularly across its North American segment. It has also been steadily improving its average revenue per subscription. Furthermore, the company recently launched another new product with Nearmap AI.

On Tuesday this week, I wrote that I believed Nearmap’s shares were still a buy, despite having risen more than 100% over the past 2 months. Since then, they have jumped again following a positive market update. The update stated that the company’s churn had dropped and its annualised contract value (ACV) has continued to grow. Nearmap’s ACV now exceeds $102 million. Additionally the company advised it is on track to be cash flow breakeven by the end of June. No doubt, all this good news put some investors’ fears to rest. This resulted in Nearmap’s share price surging by a further 16.67% on Thursday. 

Despite the current price gains, I still see the potential for ongoing value with Nearmap shares. The world is a big place, and I believe Nearmap has plenty of runway to expand its current market segments and break into new ones.

Audinate Group Ltd (ASX: AD8)

My 3rd pick of ASX growth shares to buy next week is Audinate. This company develops an audio-visual, industry-leading, media networking solution, called Dante. A mouth-full, I know! But what Dante allows audio professionals to do is use standard Ethernet networks to deliver uncompressed, multi-channel, low-latency audio. This removes the need for expensive cabling and more rigid and complicated networks.

The solution’s wide-spread adoption by manufacturers has meant that more and more Dante devices are now able to be connected together. Additionally, a Dante network offers superior flexibility, with changes able to be made with the touch of a button.

As social distancing restrictions were implemented throughout the world, Audinate was wary of possible impacts to its revenue resulting from reduced demand. However, the company’s strong balance sheet and recent revenue growth have ensured its resilience through the worst of the pandemic’s economic fallout so far. As economies around the world begin to open up, I believe strong demand for Audinate’s product will deliver continued company and share price growth.

More reading

• Top brokers name 3 ASX shares to buy next week
• The Nearmap share price is up 123% in 2 months: Why I think it can go higher
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• 5 things to watch on the ASX 200 on Friday
• ASX 200 rises again, ASX banks push higher

Michael Tonon owns shares of Nearmap Ltd. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Avita Medical Limited. The Motley Fool Australia owns shares of and has recommended AUDINATEGL FPO and Nearmap Ltd. The Motley Fool Australia has recommended Avita Medical 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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If you’re looking for strong returns over the next decade, but small caps are too risky for your tastes, then you might want to take a look at ASX mid cap shares.

I think this is a great side of the market to look for investment ideas. This is because mid caps generally carry less risk than small caps, but offer stronger potential returns than large caps.

With that in mind, I have picked out four top mid cap ASX shares which I think would be top options:

Bravura Solutions Ltd (ASX: BVS)

The first mid cap ASX share to consider is Bravura Solutions. It provides software and services to the wealth management and funds administration industries. It has a number of different products in its portfolio, which are being used by many of the world’s biggest financial institutions. This includes the Sonata wealth management platform which allows users to connect and engage with their clients anytime, anywhere, via computers, tablets, or smartphones.

Collins Foods Ltd (ASX: CKF)

Another ASX mid cap share to consider is Collins Foods. It is one of the ANZ region’s largest KFC restaurant operators and also has a growing presence in Europe. It is these operations that I’m most excited about. Due to the under penetration of KFC in Europe, I believe there is a significant expansion opportunity over the next decade. And although the pandemic will inevitably slow its expansion plans, I expect it to accelerate again when the crisis passes.

Jumbo Interactive (ASX: JIN)

Jumbo is an online lottery ticket seller and the operator of the Oz Lotteries website. The company’s shares have come under pressure this year, which I believe has created a buying opportunity for investors. Especially given its target of $1 billion in global ticket sales annually through its platform by FY 2022. This will be triple what it achieved in FY 2019.

Kogan.com Ltd (ASX: KGN)

A final mid cap ASX share to consider buying right now is Kogan. The ecommerce company has been a strong performer during the pandemic and more than doubled its sales and earnings in April. I believe the pandemic has accelerated the structural shift to online shopping and puts Kogan in a very strong position to deliver strong growth in the coming years.

More reading

• 10 top ASX growth shares to buy in June for strong returns
• Why Afterpay, Austal, Kogan, & Northern Star shares are charging higher
• Build wealth for life with these 2 ASX 200 shares
• 10 quality ASX shares to buy in June
• Where to invest $10,000 into ASX shares immediately

James Mickleboro owns shares of Collins Foods Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of and recommends Jumbo Interactive Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. owns shares of Bravura Solutions Ltd. The Motley Fool Australia owns shares of and has recommended Kogan.com ltd. The Motley Fool Australia has recommended Bravura Solutions Ltd, Collins Foods Limited, and Jumbo Interactive 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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