I love finding ASX shares that can deliver good share price growth. I’m going to talk about two ideas I’d happily buy in April 2024.
VanEck Morningstar International Wide Moat ETF (ASX: GOAT)
This is an exchange-traded fund (ETF) allows us to invest in some of the world’s strongest businesses.
The businesses in the portfolio have been judged to have competitive advantages which are probably going to last for two decades. The longevity of those advantages could mean good profit growth for a long period of time, and stability in times of economic upheaval.
This is somewhat like VanEck Morningstar Wide Moat ETF (ASX: MOAT), but the GOAT ETF invests in the global share market, not just the US share market.
At the moment, some of its biggest portfolio weightings include Veeva Systems, Adyen, Alphabet, Corteva and Harley Davidson. It has a total of 62 holdings right now. The investment team at Morningstar only invest in a company when they think it’s good value.
Over the past three years, the GOAT ETF has returned an average of 12% per year, which is a solid growth rate.
Australian Ethical Investment Ltd (ASX: AEF)
Australian Ethical says it’s among Australia’s leading ethical investment managers. The ASX share provides people with investment management products that align with their values.
Investments are guided by the Australian Ethical Charter which shapes its ethical approach and underpins both its culture and its vision.
One of the main advantages of the business is that it offers superannuation, so it’s benefiting from growth in customers and steady inflows of superannuation contributions.
At the end of the FY24 first half it had funds under management (FUM) of $9.67 billion, which was a 15% increase, partly thanks to $0.26 billion of positive net inflows.
That HY24 result saw underlying net profit after tax (NPAT) grow by 24% compared to the second half of FY23.
By the end of FY24, the business wants to have reached $100 million of annualised revenue.
I think the business can keep growing profit as its FUM increases, with hopefully growing profit margins if it can keep costs under control.
This ASX share could be particularly attractive when the share market falls in value.
