3 unique ASX shares I’d buy and hold forever Daryl Mather |...

3 unique ASX shares I’d buy and hold forever
Daryl Mather | October 9, 2020 9:59am

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ASX shares have a long track record of innovation, and of punching above their weight. For example, Avita Therapeutics Inc (ASX: AVH) is pioneering spray on skin for treating burns. However, Afterpay Ltd (ASX: APT), with no technological advantages, is also a good example. This company is blitzkrieging the globe and creating an entire industry in its wake.

Right now, I believe there are many unique ASX shares positioned for years of growth. Below I have included three of these that I have been watching for a while.

Financial ASX shares
Magellan Financial Group Ltd (ASX: MFG)presents investors with the rare opportunity of investing in a large cap company which, I believe, is likely to experience a period of significant growth. Magellan is an investment management company with over $100 billion in funds under management. It has managed to achieve an average annual growth in earnings per share of 50% since 2011. Moreover, the company’s share price has grown by an average of 53% per year since 2011.

In FY20, racked by drought and the pandemic, the company managed to increase its net profits after tax (NPAT) by 20%. However, I believe its near-term growth strategy sets it apart from other investment managers. Magellan recently announced it had taken a 40% stake in Barrenjoey Capital Partners, an unlisted, full service, investment bank planned for Australia. Not only that, but in a sector filled with competition, Barrenjoey has already secured some of the best talent in the industry.

Semiconductors on the ASX
Brainchip Holdings Ltd (ASX: BRN) is the world’s largest listed, pure-play artificial intelligence (AI) company. Moreover, I like the fact that the founder and chief technology officer is an intelligent fanatic who has been working to create this technology for most of his storied career. Not only that, but this company is currently prototyping a first-of-a-kind artificial intelligence technology. The Akida System on a Chip is a neuromorphic technology, designed to mimic the brain and nervous system.

It is already the subject of several partnership agreements in a range of sectors. These include space exploration, gaming, smart cities and autonomous vehicles. I believe the potential for this technology is very significant and beyond what is currently possible with artificial intelligence. Personally, I think this is a rare chance to buy into a semiconductor ASX share that is providing the market with a new technology.