Interest rates are at ultra-low levels and look likely to remain that way for the foreseeable future.
As a result, I continue to believe investors would be better off putting any excess funds into the share market rather than leaving them to gather paltry interest in an account.
But where should you invest these funds? Here are three top shares I would invest $5,000 into right now:
Freedom Foods Group Ltd (ASX: FNP)
I think Freedom Foods could be worth considering for that $5,000 investment. It is a growing diversified food company with a focus on healthy eating trends. The company has been investing heavily in its future growth over the last few years and looks set to reap the rewards in the coming years. Especially given its significant lactoferrin and UHT production capacity and the insatiable demand for these products in Asia. Combined with the rest of its growing business, I believe Freedom Foods is well-positioned to grow its earnings at a strong rate over the next decade.
NEXTDC Ltd (ASX: NXT)
Another share that I would invest $5,000 into is NEXTDC. It is Asia's most innovative Data Centre-as-a-Service provider and busy building the infrastructure platform for the digital economy. I believe this leaves NEXTDC in a very strong position to benefit from the accelerating adoption of cloud computing. This is because as cloud computing usage increases, demand for its data centre outsourcing solutions and connectivity services is likely to increase along with it. This year the company has seen a big lift in demand. So much so, it recently announced plans to build a new data centre in Sydney.
Pro Medicus Limited (ASX: PME)
Another option to consider investing $5,000 into is Pro Medicus. It is a leading provider of a full range of radiology IT software and services to hospitals, imaging centres, and healthcare groups globally. The key product in its portfolio is Visage 7. Pro Medicus' Visage 7 technology delivers fast, multi-dimensional images streamed via an intelligent thin-client viewer. It offers users robust clinical capabilities and scales to the needs of massive organisations. Demand has been very strong over recent years, leading to strong sales and profit growth. For example, during the first half of FY 2020, Pro Medicus reported a 32.7% increase in net profit after tax to $12.1 million. Although the pandemic is likely to stifle its growth in the second half, I remain confident that its long-term potential is enormous.
