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2 leading ASX shares I’d buy in March 2024

Many ASX shares are hitting new highs, but I still see appealing pockets of value in some areas of the market.

I don’t think the ASX banking sector is good value, and the larger miners don’t strike me as appealing either. There are other ASX share areas I’d still be willing to invest in.

Vaneck Morningstar Wide Moat ETF (ASX: MOAT)

I believe the MOAT exchange-traded fund (ETF) is set up to have a good-valued portfolio all the time. Morningstar analysts deliberately look for businesses that seem to be at an attractive market price compared to what their underlying value is. The portfolio is regularly adjusted to only own these good value companies.

But it doesn’t just invest in any business. The MOAT ETF targets businesses which have strong competitive advantages, or moats, that are expected to endure for the long-term. We’re talking about advantages like brand power, patents, cost advantages, network effects and so on.

The combination of great businesses at a good price can lead to very good returns, which has been the case with this ASX investment, though it’s not guaranteed to continue. Some of the businesses in the portfolio right now include Salesforce.comWells FargoMascoWalt Disney and Equifax.

Telstra Group Ltd (ASX: TLS)

Telstra is another ASX share that I’d be willing to buy right now.

The telco’s share price is down 14% since June 2023, yet the company’s profitability continues to rise. It has been adding subscribers for both its core offering and as a wholesaler. Revenue per user has been increasing thanks to subscription price rising in line with inflation.

Pleasingly, Telstra has been keeping a lid on cost growth and investing in its 5G network.

The telecommunications company has been growing its dividend for shareholders again, which is great to see in this inflationary environment.

If it can unlock faster connections for Aussies, particularly in their homes, then I’d say the future looks bright for the business.

Including franking credits, it might pay a dividend yield of at least 6.75% in FY24.

$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.

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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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