5 ASX growth shares to buy for market beating returns

I think a2 Milk Company Ltd (ASX:A2M), Appen Ltd (ASX:APX) and these growth shares could generate market beating returns in the 2020s…

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I'm a big fan of investing in growth shares, so feel quite fortunate to have such a large number of quality options to choose from on the Australian share market.

And while the coronavirus crisis is likely to stifle their growth in the near term, I believe many of them will bounce back strongly in FY 2021.

Five top growth shares that I believe could provide market-beating returns for investors over the next decade are listed below. Here's why I think growth investors ought to consider snapping them up in April:

a2 Milk Company Ltd (ASX: A2M)

I think that this infant formula and fresh milk company is one of the best growth shares on the local market. This is largely down to the incredible demand it continues to experience for its products in China. I believe this will continue to underpin strong earnings growth over the next decade.

Altium Limited (ASX: ALU)

Altium is a design software company which I believe has the potential to generate outsized returns for investors over the next decade. This is due to the company's award-winning Altium Designer platform, which is exposed to the rapidly growing Internet of Things market.

Appen Ltd (ASX: APX)

Another growth share to consider is Appen. It is a leading developer of high-quality, human annotated datasets for the machine learning and artificial intelligence markets. Thanks to the strong growth of these markets, I expect demand for its services to continue increasing strongly for many years to come.

REA Group Limited (ASX: REA)

REA Group is the owner and operator of the market-leading realestate.com.au website and several international versions. Whilst the coronavirus is likely to have an impact on real estate listing volumes in the coming months, I expect the market to bounce back strongly when it clears.

Xero Limited (ASX: XRO)

Finally, I think this cloud-based business and accounting software provider could be a great buy and hold investment. This is due to the quality of its product and the continued shift to online accounting. In the first half of FY 2020 Xero surpassed 2 million subscribers. This is still only a small portion of its massive global market opportunity. 

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia owns shares of A2 Milk, Altium, Appen Ltd, and Xero. The Motley Fool Australia has recommended REA Group Limited. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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