The RBA recently announced that current record low interest rates will be around for a little while longer thanks to sluggish inflation.
With this in mind I believe there are far better places to store your hard earned savings than in a supposed ‘high interest’ account.
The ASX finished up over a record month in October and looks to be continuing the pattern into FY 18.
Here are three shares I would buy with $10,000 today.
Nextdc Ltd(ASX: NXT)
The first $4,000 I would allocate to shares in data centre operator Nextdc Ltd. The company has enjoyed solid gains in its share price since the last quarter. Shares in Nextdc Ltd have increased over 235% in the last 12 months. The ever increasing demand for its services has seen the company consistently over-delivering on forecasted revenue and growth targets. One broker currently has a $6.03 price target which would make for a healthy ROI.
oOh!Media Ltd (ASX: OML)
With it share price discounted over 6% from a recent high of $4.71 I would put $4,000 towards one of Australia’s largest out-of-home media and advertising companies oOh!Media Ltd. With strong growth forecasted from the company’s digital revenue streams and additional revenue derived from recent acquisitions I believe oOh!Media will out perform the market over the next 12 months.
Nearmap Ltd(ASX: NEA)
On the higher end of the risk/reward spectrum I would invest $2,000 in aerial photomapping company Nearmap Ltd. Nearmap provides Software-as-a-Service technology that allows companies to capture, process and analyse detailed ‘PhotoMaps’ and satellite imagery. The company looks to be well positioned for growth at home and overseas as it progresses into the lucrative US market. An update on the company’s progress and outlook for 2018 is expected at the company’s AGM later this week.
Motley Fool contributor Tim Wilks owns shares in Nearmap. The Motley Fool Australia owns shares of Nearmap Ltd. 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 Bruce Jackson.