With the cash rate at a record low and unlikely to be lifted any time soon, I believe the Australian share market is a great place to put any spare funds that are gathering dust in a high interest savings account.
If you're lucky enough to have $20,000 available to invest, this is where I would put these funds:
Aristocrat Leisure Limited (ASX: ALL)
At approximately 19x estimated FY 2019 earnings, I don't believe there is a growth share on the local market that offers a more compelling risk/reward right now than this gaming technology company. Thanks to its market-leading core pokie machine business and fast-growing digital business, I believe Aristocrat Leisure is capable of growing its earnings at an above-average rate for some time to come.
Corporate Travel Management Ltd (ASX: CTD)
Another growth share that I think is worth considering is Corporate Travel Management. I thought the corporate travel specialist posted one of the strongest full year results in August when it reported a 14% lift in revenue to $372.2 million and a 34% increase in underlying net profit after tax to $86 million. Pleasingly, I feel confident that this strong form can continue in FY 2019 and beyond due to recent acquisitions and the sizeable opportunities it has to meaningfully grow its share of several markets.
Rural Funds Group (ASX: RFF)
Investors in search of income might want to consider this real estate investment trust. As its name implies, Rural Funds has a focus on agricultural assets. It has a diverse and quality portfolio comprising 44 properties across six different agricultural sectors including cattle, wine, and cotton production. The properties have a weighted average lease expiry of 12.3 years, providing income stability and long-term rental growth via a mix of indexation mechanisms. This year management plans to pay a distribution of 10.43 cents per unit, equating to a forward yield of 4.8%. Based on this yield, a $20,000 investment would result in a pay check of $960 this year.