In the midst of one of the most uncertain periods in ASX investing we have seen in years in 2022, it can be hard to decide where to deploy one's capital. The ASX has hundreds of individual shares to choose from, after all.
And with concerns over inflation, rising interest rates, geopolitics and a possible looming recession, throwing more money into the share market can certainly be intimidating right now.
So here is one ASX share I would have no problem buying with $10,000 right now, despite all the uncertainty.
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The ASX share I would buy with $10,000 today
Washington H Soul Pattinson and Co Ltd (ASX: SOL), or Soul Patts for short, is one of the oldest shares on the ASX. It even predates Federation, starting out life back in 1872. But today, Soul Patts is not just a pharmacy, as it was back in the 19th century.
The company has morphed into what one could describe as something close to an ASX-listed managed fund. It now holds a massive and diversified portfolio of underlying investments, including many ASX shares.
Today, Soul Patts owns large stakes in a number of quality ASX companies. These include TPG Telecom Ltd (ASX: TPG), New Hope Corporation Limited (ASX: NHC) and Brickworks Limited (ASX: BKW).
Thanks to its merger with the old Milton Corporation last year, Soul Patts now also owns Milton's old portfolio of ASX blue-chip shares as well.
And that's in addition to a sizeable portfolio of unlisted assets too, such as agricultural assets and swim centres.
So all in all, an investment in Soul Patts is really an investment into this broad underlying investment portfolio. And Soul Patts has the runs on the board to prove it's a worthwhile long-term investment.
Growth and dividends?
According to its last half-year financial report the company delivered back in January, Soul Patts investors have enjoyed total shareholders returns amounting to an average of 13% per annum over the past 20 years.
Soul Patts is also the only ASX share that has given investors a dividend rise every single year since 2000. So investors have enjoyed both healthy capital returns, and clockwork-like dividend raises consistently over the past two decades.
That's enough for me to have faith in the management to keep the returns rolling in.
As such, Washington H Soul Pattinson is the ASX share that I would be happiest spending $10,000 on today.
At the current Washington H Soul Pattinson share price, Soul Patts has a market capitalisation of $9.43 billion, with a dividend yield of 2.48%.
