There certainly are a lot of quality growth shares to choose from on the Australian share market.
But three that are at the top of my list right now are listed below. Here's why I think they could be the best on the ASX:
Aristocrat Leisure Limited (ASX: ALL)
Over the past 10 years Aristocrat Leisure's shares have provided investors with a market-beating total return of 14.9% per annum. I think this strong run can continue for the foreseeable future thanks to the gaming technology company's growing social and mobile gaming business. I believe this business, combined with its core pokie machine business, will help Aristocrat Leisure generate above-average earnings growth for at least the next few years.
CSL Limited (ASX: CSL)
CSL has been another high performer over the last decade. During this time the biotherapeutics company's shares have provided investors with an average annual total return of 16.9%. Pleasingly, I remain confident that CSL can continue to outperform the market over the next few years thanks to its strong core business and its fledgling Seqirus influenza business. The performance of its Seqirus business was a real highlight in the first half of FY 2018 and appears to be performing ahead of the market's expectations.
Nextdc Ltd (ASX: NXT)
This data centre operator hasn't been listed on the share market for as long as the others but, in the five years that it has been listed, it has provided an impressive average annual total return of 28.2%. While returns of this magnitude may be wishful thinking over the next five years, I do believe NEXTDC is capable of delivering strong earnings growth that pushes its shares notably higher. Especially given the heightened demand for data centre services and its portfolio of strategically positioned world class data centres.
