With the share market still trading notably lower than its February highs, I believe there are some great opportunities for investors right now.
If you have $3,000 gaining just a modicum of interest in a savings account, I would seriously consider putting it to work in the share market instead.
Here are two top ASX 200 shares I would buy with $3,000:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a leading provider of software products and services to the wealth management and funds administration industries. It is best known for its Sonata wealth management platform which allows users to connect and engage with their clients anytime, anywhere, through computers, tablets or smartphones. Sonata has been growing very strongly in recent years and looks set to continue for some time due to its quality and sizeable market opportunity.
This should be bolstered by recent acquisitions of Midwinter and Finocomp. Midwinter allows financial advisers to provide comprehensive face to face financial advice and looks well placed to capitalise on the continued change in the Australian financial advice industry. Whereas FinoComp's software adds functionality to Bravura and cross-sell opportunities. Another positive is that demand for its offering has not been impacted by the pandemic. Management recently reaffirmed its guidance for mid-teens profit growth in FY 2020 (excluding the benefits of the aforementioned acquisitions).
ResMed Inc. (ASX: RMD)
Another share to consider buying with $3,000 is ResMed. It has been growing at a very strong rate over the last decade and has become one of the world's leading sleep treatment companies. Pleasingly, this strong form has continued in FY 2020. During the first half the company delivered a 22% lift in operating profit to US$368.9 million. It then followed this up with a 47% increase in third quarter profits earlier this month.
Although ResMed's growth in the coming quarters could be hit by lower sleep apnoea diagnoses because of the pandemic, outside this, I'm confident that it is well-placed to continue its positive trajectory for many years to come. This is due to its world-class product portfolio and the massive number of undiagnosed sleep apnoea sufferers globally. The company estimates that there are upwards of ~1 billion people impacted by sleep apnoea globally. The vast majority of these are currently undiagnosed.
