Here’s how much $20,000 invested in these ASX shares 10 years ago is worth now

These ASX shares could have made you wealthy…

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I’m a big fan of buy and hold investing and believe it is the best 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:

ARB Corporation Limited (ASX: ARB)

If you had invested $20,000 in ARB shares a decade ago you would have done very well. This is thanks to the 4X4 parts company’s consistent sales and profit growth which has been driven by strong demand in domestic and export markets. This strong demand is being underpinned by the increasing popularity of SUVs and its ongoing investment in product development. Over the 10 years, ARB’s shares have generated an average total return of 22% per annum. This would have turned a $20,000 investment into just over ~$150,000 today.

Corporate Travel Management Ltd (ASX: CTD)

Another ASX share that has smashed the market since 2011 is Corporate Travel Management. Thanks to its investment in technology and a number of earnings accretive acquisitions, the corporate travel specialist has grown its earnings at a rapid rate over the last decade. This has led to Corporate Travel Management shares generating a total return of 31.2% per annum over the period. This would have turned a $20,000 investment into just over $300,000.

Goodman Group (ASX: GMG)

Finally, this integrated commercial and industrial property company has been an impressive performer over the last decade. This has been driven by its strategy of investing in and developing high quality industrial properties in strategic locations close to large urban populations and in and around major gateway cities globally. Management notes that this is where demand is strong and transformational changes are driving significant opportunities. Clearly this strategy works. Goodman’s shares have generated a total average return of 24.8% per annum since 2011. This would have turned a $20,000 investment into ~$185,000.

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 no position in any of the stocks mentioned. The Motley Fool Australia owns shares of and has recommended Corporate Travel Management Limited. The Motley Fool Australia has recommended ARB Corporation Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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