One thing the Australian share market certainly isn't short of is high quality blue chip shares.
However, with so many options for investors to choose from, it can be hard to decide which ones to pick for your portfolio.
To narrow things down I've picked out three blue chip shares which I think are amongst the best on the market right now. They are as follows:
Cochlear Limited (ASX: COH)
Cochlear is a leading developer, manufacturer, and distributor of cochlear implantable devices for the hearing impaired globally. It has provided investors with market-beating returns over the last decade and I believe it is well-placed to do the same over the next decade thanks to its position as a market leader in a structural growth market which has high barriers to entry and attractive demographics. According to the WHO, it has forecast there to be 1.5 billion people over the age of 65 by 2050, up from 524 million in 2010. I believe this bodes well for the company's future growth.
CSL Limited (ASX: CSL)
Another blue chip share to consider buying in FY 2020 is this biotherapeutics company. As with Cochlear, CSL's shares have been market-beaters over the last decade. Pleasingly, I believe the quality of its management team and its CSL Behring and Seqirus businesses means there's a strong probability of its shares doing the same over the next 10 years. CSL Behring is the global leader in plasma therapies and Seqirus is the second biggest in the influenza vaccines industry. I feel both businesses have outstanding long-term growth prospects due to their leading products and potentially lucrative development pipelines.
SEEK Limited (ASX: SEK)
A final blue chip share to consider buying in FY 2020 is this job listings company. I believe the strength of its core ANZ business and its fast-growing Chinese operations could drive strong earnings growth over the next decade. Especially after its heavy investment in growth opportunities this year. Whilst this is likely to lead to earnings being flat at best in FY 2019, I believe the short term pain is worth accepting for the long term gain that these investments are likely to create.
