Aussie investors: 3 ASX shares to buy and hold forever

Analysts think these buy and hold options are top picks right now.

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I think that buy and hold investing with ASX shares is one of the best ways to grow wealth.

Let me now demonstrate why.

Buy and hold ASX shares

Over the long term, the share market has delivered investors an average annual return of 10% per annum.

And while there is no guarantee that it will continue doing the same in the future, we're going to assume that it does for the purpose of this article.

Based on that return, if you are able to invest $10,000 into ASX shares each year and earn the market return, you would grow your portfolio to $175,000 after 10 years, thanks to the power of compounding.

But why stop there? Compounding really starts to work its magic the longer you leave it. So, if we fast forward another 10 years of doing the same, your portfolio would have become worth almost $650,000.

But which ASX shares would be good options for a buy and hold investment? Three to consider are as follows:


The first ASX share that could be a great buy and hold option is CSL.

It is the biotechnology giant behind the CSL Behring, CSL Vifor, and CSL Seqirus businesses. These are leaders in their respective fields and provide world-class plasma therapies, iron deficiency and nephrology treatments, and vaccines.

UBS thinks investors should be buying its shares at present. The broker currently has a buy rating and a $330.00 price target on CSL's shares.

Nextdc Ltd (ASX: NXT)

Another ASX share that could be a great long-term option for investors right now is NextDC.

It is a leading data centre operator with world-class operations across the Asia Pacific. Thanks to the shift to the cloud and the artificial intelligence boom, demand for data centre capacity is growing rapidly. This has many analysts predicting that NextDC will grow its earnings very strongly over the next decade.

One of those is Morgans, which has an add rating and a $19.00 price target on its shares.

Pro Medicus Limited (ASX: PME)

Finally, this health imaging technology company could be a quality option for investors.

It is a leading provider of radiology information systems (RIS), Picture Archiving and Communication Systems (PACS), and advanced visualisation solutions across the globe.

Goldman Sachs is very bullish on the company's long-term outlook. So much so that it recently put a buy rating and $134.00 price target on its shares.

Motley Fool contributor James Mickleboro has positions in CSL, Nextdc, and Pro Medicus. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended CSL, Goldman Sachs Group, and Pro Medicus. The Motley Fool Australia has recommended CSL and Pro Medicus. 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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