With the S&P/ASX 200 (ASX: XJO) index up a princely 1.16% today (at the time of writing) it's a good time to be in the markets. But unless you've got 100% of your cash invested in shares right now (probably not the wisest move), it's also a good time to scope out where your next investment might be.
So here's where I would deploy an extra $20 Grand in the markets today (if I was so lucky).
Freedom Foods
Freedom Foods Group Ltd (ASX: FNP) has been impressing investors this year with its solid growth numbers, particularly in the 'plant-based beverage' division (I'm assuming they taste better than they sound). In all seriousness, health foods like almond milk and gluten-free/dairy-free/nut-free snacks are a massive growth area and I think that this company is well-poised to take its successful brands to the next level.
Freedom has ambitious plans to expand into the lucrative American and Asian markets, which would underpin a long-term growth runway for this company if it can pull it off.
Treasury Wine Estates
Treasury Wines Estates Ltd (ASX: TWE) has long been an outperformer, but just today (at the company's AGM), management has reported guidance that Treasury's earnings growth is on track for a 15-20% bump in FY20.
Emerging markets across Asia, in particular, can't seem to get enough of quality Australian wine – which is what has fuelled Treasury's stellar growth over the past five years. I think it would be foolish to bet against the popularity of wine or alcohol in general, and thus I would be happy to tip some money into Treasury shares today.
Westpac
I think this year's performance of ASX banking shares has proven that investors shouldn't write them off anytime soon. Westpac Banking Corp (ASX: WBC) alone has given shareholders a nice 19% return this year so far (not even including dividends), so I think it's always a good idea to have at least some exposure to these ASX heavyweights.
Westpac is also offering a 6.44% starting dividend yield on current prices (which equals a grossed-up yield of 9.2%), so even keeping this stock for cashflow wouldn't be a bad way to play it.
Foolish Takeaway
I think these three ASX shares would be a great place to start if you wanted to bulk up your portfolio today. On current pricing, I especially like TWE shares, but Freedom has been catching my eye of late as well.
