Here's how much $20k invested in these ASX shares 10 years ago is worth today

Investing in these ASX shares in 2012 could have made you rich…

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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 two ASX shares that are listed below:

CSL Limited (ASX: CSL)

The CSL share price may not be trading anywhere near its record high, but that hasn't prevented it from being a market-beater over the last 10 years. During the time, investors have been bidding the biotherapeutics company's shares higher in response to consistently strong sales and earnings growth. This has been underpinned by strong demand for its product portfolio, the highly successful acquisition of the Novartis influenza vaccines business, and its ongoing investment in research and development.

Since this time in 2012, CSL's shares have generated an average total return of 23.4% per annum. This would have turned a $20,000 investment into approximately $164,000.

TechnologyOne Ltd (ASX: TNE)

This enterprise software provider's shares have also smashed the market over the last decade. The catalyst for this has been the company's ability to continue growing its earnings at a solid rate over the period. This has been driven by the quality of its software and the stickiness of it with government and business customers. In addition, the recent shift to a software-as-a-service model and the early success of its expansion into the UK have boosted its shares.

Over the last 10 years, TechnologyOne's shares have generated a total return of 26.6% per annum for investors. This means that a $20,000 investment in 2012 would be worth approximately $212,000 today.

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 CSL Ltd. The Motley Fool Australia has recommended TechnologyOne 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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