If you're wanting to add some blue chip ASX shares to your portfolio, then you're in luck. The Australian share market is home to a good number of blue chips which I believe could generate strong returns for investors in 2020 and beyond.
Three blue chip ASX shares that I would buy are listed below. Here's why I like them:
Cochlear Limited (ASX: COH)
One of my favourite blue chip ASX shares is Cochlear. I think the hearing solutions specialist could be a fantastic long-term investment option due to its exposure to the ageing populations trend. Because hearing tends to fade and people get older, I expect demand for its high quality products to increase strongly over the next couple of decades. Another positive is the industry's high barriers to entry, which I expect to limit competition.
Macquarie Group Ltd (ASX: MQG)
Another blue chip to consider is Macquarie. I think the investment bank is a great long term option and alternative to the big four banks. This is due to the quality and diversity of its earnings and its ability to deliver growth when even the big four are struggling. Another positive is that its shares provide investors with a generous dividend yield as well.
SEEK Limited (ASX: SEK)
A final blue chip ASX share to consider buying is SEEK. I think the job listings company is one of the best long-term options on the Australian share market. This is due to its investment in future growth opportunities. After delivering an 18% increase in revenue to $1,537.3 million in FY 2019, these investments are expected to play a key role in SEEK achieving its ambitious aspirational revenue target. It is aiming to grow its revenue to $5 billion by FY 2025.
