These ASX shares turned $20,000 into $100,000 in 10 years

I’m a big fan of buy and hold investing and believe it is a great way for investors to grow their wealth.

To demonstrate how successful it can be, I like to pick out a number of popular ASX shares to see how much a single $20,000 investment 10 years ago would be worth today.

This time around I have picked out the three ASX shares that are listed below:

Corporate Travel Management Ltd (ASX: CTD)

This corporate travel booking company’s shares have smashed the market over the last decade despite the COVID pandemic. This has been driven by the success of its growth through acquisition strategy and focus on technology, which has underpinned impressive sales and profit growth over the period. Over the last 10 years, Corporate Travel Management shares have provided investors with a total return of 20% per annum, which would have turned a $20,000 investment into just over $125,000.

Jumbo Interactive Ltd (ASX: JIN)

Jumbo is the online lottery ticket seller behind the Oz Lotteries platform. In addition, the company has a growing Powered by Jumbo software as a service platform which has been helping disrupt the global lottery market by making the shift online easier for lottery operators. And with the shift online still in its infancy, this side of the business has been tipped to grow materially in the future. This means that the strong gains the Jumbo share price made over the last 10 years may not be the end of the story. Speaking of which, Jumbo’s shares have provided investors with an average total return of 23.2% per annum over the last 10 years. This would have turned a $20,000 investment in its shares 10 years ago into ~$160,000 today.

Macquarie Group Ltd (ASX: MQG)

Finally, the Macquarie share price has been a consistently strong performer over the last decade whatever the economy has thrown at it. This has been possible due to the quality and diversity of its operations and its strong position in investment banking. During this time, the bank has outperformed both the market and the big four banks by some distance with an average total return of 20.8% per annum. This would have turned a $20,000 investment in Macquarie’s shares in 2012 into ~$132,000 today.

The post These ASX shares turned $20,000 into $100,000 in 10 years appeared first on The Motley Fool Australia.

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More reading

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• Top broker names 2 ASX dividend shares to buy now

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Jumbo Interactive Limited. The Motley Fool Australia has recommended Corporate Travel Management Limited, Jumbo Interactive Limited, and Macquarie Group Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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