As I mentioned earlier today, current cash rate futures continue to point to a further cut by the Reserve Bank in 2020.
In light of this, if I had $10,000 sitting in a savings account, I would consider putting it to work in the share market.
After all, the potential returns on offer are vastly superior to those you'll find with a Commonwealth Bank of Australia (ASX: CBA) savings account.
With that in mind, here are three top ASX shares I would buy with $10,000:
a2 Milk Company Ltd (ASX: A2M)
I think this infant formula and fresh milk company would be a good place to invest $10,000. A2 Milk has been growing at a very strong rate in recent years and appears well-positioned to continue this positive form for many years to come. This is due to the increasing demand for its infant formula in the massive China market. Another driver of its growth should be the expansion of its fresh milk footprint in the United States.
Altium Limited (ASX: ALU)
Altium is an electronic design software company which I believe has outstanding long-term growth potential. This is thanks to its exposure to the rapidly growing Internet of Things (IoT) market. As most IoT devices contain printed circuit boards (PCBs) inside them, demand for its award-winning Altium Designer platform looks set to grow strongly over the next decade. Combined with its other growing businesses, I am confident Altium can achieve its aspirational revenue target of $500 million by FY 2025. This compares to its guidance of US$205 million to US$215 million in FY 2020.
Webjet Limited (ASX: WEB)
Webjet is a leading online travel agent which I think could provide strong returns for investors over the next few years. Thanks to the continued shift to online booking, its popular brands, and its focus on margin expansion, I expect Webjet to continue delivering above-average earnings growth for the foreseeable future. Another positive is its attractive valuation. At present its shares are changing hands for a very reasonable 20x estimated FY 2020 earnings.
