If I had $10,000 to invest in three ASX shares today, I'd want to make sure they have good long-term growth prospects and could be reliable in this volatile period.
With that in mind, these are three ASX shares I'd buy today:
Magellan Global Trust (ASX: MGG) – $4,500
Magellan Global Trust is one of the highest-quality listed investment businesses on the ASX. It has a mandate to invest in the best global businesses it can find such as Visa, Mastercard, Alphabet and Facebook.
Each of its holdings could beat the global share market return over the medium-term, but I particularly appreciate the large cash holding Magellan Global Trust has, around 20% of the portfolio, which is a good defence against market falls.
Fund manager Magellan Financial Group Ltd (ASX: MFG) is one of the most consistent fund manager outperformers of the market and I think Magellan Global Trust will continue to do well over the long-term.
BetaShares Asia Technology Tigers ETF (ASX: ASIA) – $2,500
Asia has its own equivalent of the Amazons and Facebooks of the US, which we can access through an ETF like this Asian technology ETF offered by BetaShares.
Before the trade war rattled international markets, tech giants like Alibaba and Tencent were some of the top performing blue chips in the world. They've now fallen to such an attractive level it's hard to avoid thinking they're worth a small place in a portfolio at this level assuming China doesn't go through a recession.
BetaShares said that at the end of November the index was trading with a price/earnings ratio of just over 6, which seems like excellent value.
Washington H. Soul Pattinson and Co Ltd (ASX: SOL) – $3,000
What could be a safer long-term bet than investment conglomerate Soul Patts?
Its ultra-long-term investment style has seen its small investments in shares like TPG Telecom Ltd (ASX: TPM) and Brickworks Limited (ASX: BKW) turn into enormous gains.
I particularly like the commitment of the investment company to pay a steadily-rising dividend. It has increased its dividend each year since 2000, which is a wonderful record considering most ASX businesses reduced their dividend during the GFC.
It currently has a grossed-up dividend yield of 3.2%.
Foolish takeaway
I believe Magellan Global Trust is well-positioned to profit from the falling share market. The Asian Technology ETF looks very attractive, but it's higher-risk, so I wouldn't want to allocate too much of my portfolio to it. Soul Patts may be the highest quality share of the three, but I'd like its yield to be higher before buying more shares.
