2 top ASX shares to buy and hold for the next decade

Long-term investing in ASX shares could be the best way to allocate money because it gives strong investments a better chance to perform well.

But I wouldn't want to invest in something that's going to be mediocre for a long time; I'd only want to buy investments that could help grow my wealth over time.

Below are two ideas I'd feel comfortable owning for the next 10 years (and beyond).

TechnologyOne Ltd (ASX: TNE)

TechnologyOne describes itself as Australia's largest enterprise software company with a global presence. It aims to provide end-to-end software as a service (SaaS) enterprise resource planning (ERP) for clients.

It has 1,300 leading corporations, government agencies, local councils and universities as clients.

The business has won several major clients recently, including the City of Townsville, Cardinia Shire Council, Liverpool City Council, Salisbury City Council, and City of Ryde Council.

The UK could be a strong area of growth for the business over the coming years. According to TechnologyOne, the UK local government sector is currently undergoing a transition period with the planned amalgamation of smaller councils to form larger, economically viable councils. It said in the FY26 result that its sales pipeline for local government in the UK remains strong and it thinks it will see accelerated growth from this sector in future periods.

The education is also growing, with annual recurring revenue (ARR) growth of 15% in FY26, with good wins like James Cook University. In the UK, it has won the University of Suffolk and Royal Holloway, University of London.

This business is aiming to reach at least $1 billion in ARR by FY30 from its base of $598 million. The company also thinks economies of scale could help it boost its profit-before-tax margin to at least 35% in the long term.

In the next decade, I think its earnings could rise significantly, making it good value today.

BetaShares Diversified All Growth ETF (ASX: DHHF)

The other investment I want to discuss is an exchange-traded fund (ETF) that aims to provide exposure to a diversified, low-cost 'all-growth' portfolio.

The idea of the portfolio is that it can provide exposure to global shares across a wide range of global exchanges.

Currently, it has a strategic asset allocation guideline of 37% to Australian shares and 63% to international shares across US shares, developed share markets (excluding the US) and emerging market shares.

The ASX share market allocation is similar to the US share market allocation, while the developed market (excluding the US) has a 15% allocation, and emerging markets has an approximate 7% allocation.

The markets that have the biggest exposure beyond the US and Australia, are Japan, Taiwan, China, Canada, the UK, South Korea and India.

I like how the fund can give exposure to a wide variety of assets with just a single investment, which I'd call very appealing for a long-term investment.

Since the fund's inception in December 2020, it has returned an average of 11.8% per year.

The post 2 top ASX shares to buy and hold for the next decade appeared first on The Motley Fool Australia.

Motley Fool contributor Tristan Harrison has positions in Technology One. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. 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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