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2 top ASX shares I’d buy in August 2023

Reporting season might be a handy time to buy top ASX shares that look good value. I’m calling these two ASX shares opportunities.

Businesses don’t have to fall in price to be good value – it could simply be that they’re at a large discount to the underlying asset value.

Here’s why I like these two ideas.

MFF Capital Investments Ltd (ASX: MFF)

This ASX share is a listed investment company (LIC) that’s run by Chris Mackay who has well over $300 million of his family’s wealth invested in MFF.

It’s invested in a portfolio of high-quality global shares like MastercardVisaAmazonAlphabetHome DepotAmerican Express and Meta Platforms.

These sorts of businesses have done well over the long-term. MFF targets “extraordinary businesses with sustainable competitive advantages and above average sustainable growth rates, acquired on satisfactory terms.

Why is it good for investors right now? It’s currently at an 18% discount to the net tangible assets (NTA) at the end of July 2023, and it’s steadily growing the dividend. The FY24 annual dividend is expected to be $0.115 per share, which would be a fully franked dividend yield of 4%.

Accent Group Ltd (ASX: AX1)

Accent is one of the more promising ASX shares in the retail sector. It sells a number of different shoe brands like Skechers, Vans, Henleys, Hoka and Ugg. The ASX share does own some of its own brands like Glue Store, Nude Lucy and The Athlete’s Foot.

I think shoe retailing is going to perform better than some categories of retail, and I like how it’s looking to keep expanding its store network which should help with total revenue and net profit.

While lots of retailers have seen share price rises in the last few weeks, Accent hasn’t done much since the start of June.

Taking the estimates on CMC Markets at face value, the Accent share price is valued at just 12 times the projected profit for FY25, with a possible fully franked dividend yield of 7.3%.

$50,000 per year in passive income from shares? Yes, please!

With interest rates UP, now could be one of the best times to start earning passive income from a portfolio. Imagine earning 4%, 5% — or more — in dividend passive income from the best shares, LICs, or ETFs… it’s like magic.

So how do the best investors do it?

Chief Investment Officer Owen Rask has just released his brand new passive income report. Owen has outlined 10 of his favourite ETFs and shares to watch, his rules for passive income investing, why he would buy ETFs before LICs and more.

You can INSTANTLY access Owen’s report — or get it emailed to you — for FREE by CLICKING HERE NOW or the button below.

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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 does not have a financial or commercial interest in any of the companies mentioned.
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