Although rates are rising in the United States, recent local economic data appears to rule out an increase in rates over here any time soon.
In light of this, I continue to believe that investors would be better off skipping savings accounts and putting their money to work in the share market instead.
If I had $10,000 to invest I would consider putting it in one of these three ASX shares:
Aristocrat Leisure Limited (ASX: ALL)
Last month this gaming technology company released its first-half results which revealed an impressive 24.4% increase in net profit after tax. This was well ahead of expectations and was due to the strong performance of its core poker machine business and an even stronger performance from its Digital business. The Digital segment, which benefitted from the acquisitions of Plarium and Big Fish, delivered a 220.7% increase in revenue on the prior corresponding period to $552.9 million, meaning it now accounts for a third of total revenue. Key to the significant rise was the 493% increase in the number of daily active users that the segment boasts to 8.9 million. I think the recurring revenue that these users generate puts Aristocrat Leisure is a great position to continue growing its bottom line at an above-average rate for the foreseeable future.
Bellamy's Australia Ltd (ASX: BAL)
Over the last six weeks this organic infant formula company's shares have come under significant selling pressure due to rival A2 Milk Company Ltd (ASX: A2M) providing full-year guidance that was lower than the market expected. But this was largely down to a2 Milk managing its inventory ahead of the release of its new packaging and not necessarily a decline in demand. Because of this, I think the selloff of Bellamy's shares was probably an overreaction and could have created a buying opportunity for investors.
Corporate Travel Management Ltd (ASX: CTD)
One of my favourite growth shares on the Australian share market would have to be this corporate travel manager. As well as benefiting from the strong organic growth that the industry is experiencing, I believe Corporate Travel Management has opportunities to accelerate its growth through acquisitions in a highly fragmented market. Thanks to the strong demand it is experiencing, management expects the company to achieve year-on-year EBITDA growth of approximately 27.5% in FY 2018.
