Interest rates are at ultra low levels and could even head lower in the coming months.
In light of this, I would sooner invest in the share market than leave funds to gather dust in a supposedly "high" interest savings account.
After all, the potential returns on offer are far greater than the paltry interest rates being offered by banks these days. Especially after the recent market crash.
Here are three outstanding ASX shares I would consider buying with $10,000:
Bravura Solutions Ltd (ASX: BVS)
Bravura is a leading provider of software solutions for the wealth management, life insurance, and funds administration industries. While its short term growth could be impacted by the COVID-19 pandemic, I believe it is well-positioned for strong growth over the next decade. This is due to its increasingly popular Sonata wealth management platform. This platform has a sizeable global market opportunity and looks well-placed to capture a big slice of it. Supporting its growth will be the recent acquisitions of Midwinter and FinoComp, which have opened the company up to new and lucrative markets.
Jumbo Interactive (ASX: JIN)
Jumbo is an online lottery ticket seller and the operator of the ozlotteries.com website. Its shares have been hammered in 2020 due to concerns over its slowing profit growth. However, it is worth noting that this slowdown has been caused by its increased investment in growth opportunities. Pleasingly, management expects its margins to return to normal and for its investments to bear fruit in FY 2021. It is also targeting $1 billion in ticket sales on the Jumbo platform by FY 2022. This will be triple what it achieved in FY 2019.
REA Group Limited (ASX: REA)
Another option for that $10,000 investment could be property listings company REA Group. Although the housing market (and therefore listing volumes) is likely to be negatively impacted by the coronavirus pandemic, just last year we saw how quickly it can rebound. I expect this, price increases, its international operations, and new revenue streams to underpin solid earnings growth over the coming years. This could make it worth taking advantage of its recent share price weakness by making a patient long term investment.
