There's one ASX share I'd happily hold for 10 years. This is it

Résumé détaillé

I think this ASX share can stand the test of time. The post There's one ASX share I'd happily hold for 10 years. This is it appeared first on The Motley Fool Australia.

Buying and holding ASX shares for the long term gives your investment time to generate more growth.

In fact, while short-term market volatility can cause short-term losses or gains, if you push your investment horizon out to 10 years or more, the chance of a positive return is much higher. And during that time, you're also benefitting from compounding.

But I wouldn't hold just any old ASX share for the long term. I want a good quality stock that I'm confident can stand the test of time.

Macquarie Group Ltd (ASX: MQG) is one ASX share I'd happily hold for 10 years.

At the time of writing, Macquarie is Australia's fifth-largest bank by market capitalisation, and the seventh largest stock listed on the S&P/ASX 200 Index (ASX: XJO).

But Macquarie is more than just an ASX bank share. It is a global investment bank and asset manager which provides services across a diverse range of markets.

Aside from banking, Macquarie Group also operates across asset management, commodities and financial markets, advisory, investment, and fund management services across 34 markets globally.

Its four main operating groups are Macquarie Asset Management (MAM), Commodities and Global Markets (CGM), Macquarie Banking and Financial Services (BFS), and Macquarie Capital.

MAM manages pools of global capital and generates recurring base management fees.

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