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How I’d invest $10,000 into ASX shares right now

If I were investing $10,000 into ASX shares, then I’d be happy because there are a bunch of opportunities right now.

I always like to buy businesses at lower prices. Right now, there are lower prices almost across the entire board.

There’s no guarantee that things won’t keep going down. But these prices certainly look attractive to me, so I’d be willing to buy the following businesses with $10,000.

Washington H. Soul Pattinson and Co. Ltd (ASX: SOL)

I would invest $3,500 into WHSP shares at the current price of $23.45.

While I don’t think that the investment house will grow rapidly, I think it’s the type of investment we can hold for many years and not need to worry about what it’s doing.

It’s invested in a lot of different sectors like resources, telecommunications, financial services and so on.

Over the long-term, I can see this ASX share being one of my biggest holdings.

Airtasker Ltd (ASX: ART)

I’d invest another $2,000 into local services platform business Airtasker at the current share price of $0.33.

Airtasker shares are down 60% this year, but I think this makes it a much larger opportunity.

The ASX share is already at a stage where it’s cashflow neutral, so it doesn’t need external funding for its operations. As it grows revenue, it can invest most of that into growing more, thanks to its gross profit margin of more than 90%.

There is plenty of potential for the business to grow revenue because of the wide array of services that can be purchased. It is also growing in other countries outside of Australia, such as the UK and the USA, which are large markets.

Over five years, I think this business can become significantly bigger.

Xero Limited (ASX: XRO)

I would put $3,000 towards Xero shares. I think that Xero is one of the best businesses on the ASX with its very high retention rate, high gross profit margin and a very large addressable market.

The ASX share is growing market share in New Zealand, the UK and Australia. There is plenty of growth potential in places like Canada, Singapore and South Africa. It could eventually offer cloud accounting software in most countries in the world.

Despite already being a large business, it’s still heavily focused on growth, which sounds like good news for shareholders over the long-term. The Xero share price has dropped 50% this year, so I think the current price of $73.52 looks good.

Adore Beauty Group Ltd (ASX: ABY)

Finally, I would put $1,500 towards Adore Beauty, the online beauty retailer. It’s growing at a solid pace and building a good economic moat. Beauty products is a sector that seems somewhat defensive and consistent to me.

I think Airtasker has more growth potential than Adore Beauty, but I think the beauty retailer still looks very good value after falling 75% to $1.02.

The ASX share is growing its customer base, increasing its gross profit margin, it’s launching a private brand and expanding its product range. Bigger scale will help with its operating leverage over time.

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Information warning: The information on this website is published by The Rask Group Pty Ltd (ABN: 36 622 810 995) is limited to factual information or (at most) general financial advice only. That means, the information and advice does not take into account your objectives, financial situation or needs. It is not specific to you, your needs, goals or objectives. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser who can provide you with personal financial product advice. In addition, you should obtain and read the product disclosure statement (PDS) before making a decision to acquire a financial product. Please read our Terms and Conditions and Financial Services Guide before using this website. The Rask Group Pty Ltd is a Corporate Authorised Representative (#1280930) of AFSL #383169.

At the time of publishing, Jaz owns shares of WHSP.