With interest rates struggling to keep up with inflation, if I had $10,000 sitting in a bank account I would consider investing it in the share market.
This is because the potential returns on offer from the share market are vastly superior to anything you'll find with savings accounts or term deposits.
But where should you invest these funds? I think the three ASX shares listed below could be great options for these funds:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a leading provider of software products and services to the wealth management and funds administration industries. Although its shares have been particularly strong performers in recent weeks, I don't believe it is too late to invest with a long term view. This is due to the sizeable market opportunity that its Sonata platform has globally and the benefits of recent acquisitions that have opened up new market opportunities.
CSL Limited (ASX: CSL)
Another quality option for that $10,000 could be CSL. I think this biotherapeutics company is one of the best buy and hold options on the local share market. This is due to its strong long term growth prospects thanks to the growing demand for immunoglobulins, its expanding plasma collection network, the increasing utilisation for secondary immunodeficiencies, and burgeoning R&D pipeline.
Telstra Corporation Ltd (ASX: TLS)
If you're more interested in investing these funds into value and income options then Telstra could be a good choice. I think Telstra is trading at a very attractive given its increasingly positive outlook. Last month the telco giant provided an update at its investor event and revealed that it is on track to strip out a total of $2.5 billion in costs by 2022. It also confirmed that it expects to deliver on its EBITDA and free cash flow guidance in FY 2020. I believe this means its 16 cents per share dividend more than safe. This equates to a 4.3% dividend yield.
