Trying to invest a lump sum of £1,500 could seem like a challenging task for beginner investors. After all, there are thousands of UK shares and funds available for us to buy. And all of them appear to offer something different.
However, if I had to invest this lump sum today, I’d focus on a basket of top UK shares. All are leaders in their respective industries and would offer me both income and growth.
Top UK shares on offer
One of the first companies I’d buy with a lump sum investment of £1,500 today is Legal and General. This insurance group is one of the country’s biggest financial services businesses. As well as being a general insurer, it’s also an asset manager and owns property around the country.
Due to its size, I think it’s unlikely this organisation will win any awards for earnings growth. Still, the stock currently offers an attractive dividend yield of 7%. This dividend isn’t always guaranteed. An economic slump could hurt profit growth, which may force the company to reduce the payout to preserve cash.
Nonetheless, I’d buy the enterprise for its slow and steady nature and income potential for the foundations of my portfolio of UK shares.
As well as L&G, I’d buy some growth stocks for my portfolio of top UK shares.
Investing for growth
I think one of the best growth stocks to buy right now is Bloomsbury Publishing. This company has knocked it out of the park over the past few years by doubling down on what it does best.
By focusing on publishing high-quality books, the company’s been able to go from strength to strength. Net profit has nearly doubled since 2017. And with almost £42m of cash on its balance sheet at the end of its 2021 financial year, I think the group has plenty of capital available to support growth as we advance.
That said, this sector is highly competitive. So Bloomsbury’s growth shouldn’t be taken for granted. A string of poorly performing titles could bring an end to its growth streak.
Despite this risk, I’d buy Bloomsbury today for my £1.5k portfolio.
The final stock I’d also acquire for my portfolio of top UK shares is Robert Walters. This international recruitment company should be able to capitalise on the economic recovery and return to growth in the years ahead. That’s assuming economic growth does pick up. If not, Robert Walters may struggle.
However, I think this recruiter is one of the most efficient operators in the sector. Therefore, I’d rather own this enterprise than its industry peers. Its position in the market is the primary reason why it qualifies as one of the top UK shares I’d like to own right now.