Interest rates are at record lows and look likely to remain that way for some time to come, possibly even years.
In light of this, I believe investors would be better off putting any excess funds into the share market rather than leaving them to gather only paltry interest in a savings account.
But where should you invest these funds? Here are three top shares I would invest $5,000 into in July:
Appen Ltd (ASX: APX)
The first ASX share I would invest $5,000 into is Appen. It is a global leader in the development of high-quality, human-annotated training data for machine learning and artificial intelligence (AI). I think Appen could be a great long term option due to the expected growth of the AI market. Management estimates that this market will be worth between US$169 billion and US$191 billion per annum by 2025. And with 10% of AI spending expected to be on the data labelling that Appen is a leader in, I believe it bodes very well for its future earnings growth.
BetaShares NASDAQ 100 ETF (ASX: NDQ)
I believe the BetaShares NASDAQ 100 ETF is another great option for a $5,000 investment. This exchange traded fund gives investors access to tech behemoths such as Apple, Amazon, Facebook, Microsoft, Nvidia, and Google parent, Alphabet. Given how the majority of the 100 companies in the fund have very positive long term outlooks, I believe there is a high probability of it providing investors with stronger returns than the ASX 200 index over the next decade.
Kogan.com Ltd (ASX: KGN)
A final share to consider investing $5,000 into is Kogan. I think the fast-growing ecommerce company is well-placed to profit from the continued rise in online shopping and the growing popularity of its Kogan-branded products and Marketplace. Its expansion into potentially lucrative verticals such as energy and mobile should also be supportive of its growth. As should the $120 million it recently pulled in from a capital raising. Management intends to use these funds to make value accretive acquisitions in the near term.
