If you're a new investor and have $5,000 to put in the share market, then you're in luck.
The recent and ongoing market meltdown has indiscriminately dragged down a large number of shares to very attractive levels.
Whilst it might be best to keep your powder dry until the market settles, when it does I would be investing in these top shares:
Altium Limited (ASX: ALU)
Altium is a leading provider of printed circuit board (PCB) design software globally. Its Altium Designer software is widely regarded as the best in the industry and looks very well positioned for strong future growth. This is thanks largely to the rapidly growing Internet of Things (IoT) market which is driving stronger and stronger demand for design software. Pleasingly, the IoT market is expected to continue growing at a strong rate for a number of years to come. For example, according to Statista, it estimates that the IoT market will grow from 23 billion devices in 2018 to 75 billion devices in 2025. Combined with its other growing businesses, I expect this to lead to strong profit and dividend growth over the next decade.
NEXTDC Ltd (ASX: NXT)
Another fast-growing share to consider buying when the market volatility eases is NEXTDC. I believe the data centre operator could be a great long term investment option due to the cloud computing boom which continues to accelerate. This is because as cloud computing usage increases, demand for NEXTDC's innovative data centre outsourcing solutions and connectivity services is likely to increase significantly and drive strong earnings growth as it scales.
Pushpay Holdings Ltd (ASX: PPH)
Pushpay provides a donor management system, including donor tools, finance tools and a custom community app, to the faith sector, non-profit organisations, and education providers in the United States, Canada, Australia, and New Zealand. Its solutions simplify engagement, payments, and administration, which enables users to increase participation and build stronger relationships with their communities. This system has gone down very well with users and has led to rapid recurring revenue growth over the last few years. Given its large addressable market, leadership position in it, and recent acquisitions, I believe it is well-placed to continue its strong form over the next decade.
