Are these 2 strong ASX growth shares to buy?

The two ASX shares in this article have long-term growth potential.

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Long-term ASX share investing could be the right way to generate solid returns.

There are some options that could provide a good performance if they can continue the growth they have already been producing for a while.

Here are two options to consider:

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Betashares Nasdaq 100 ETF (ASX: NDQ)

This is one of the largest exchange-traded funds (ETFs) on the ASX with ne assets of more than $2.7 billion.

This ASX share is about providing investors with exposure to 100 of the largest businesses on the NASDAQ, which is a stock exchange in the United States. Not every US business is on the NASDAQ, there are others that are on the New York Stock Exchange.

However, the composition on the NASDAQ means that many of its biggest constituents are actually some of the world's largest technology businesses such as Apple, Amazon, Alphabet (Google), Facebook/Meta, Tesla and Nvidia.

But there are plenty of high-quality businesses in this portfolio that are either leaders in the country or global leaders at what they do including Adobe, PayPal, Cisco, Costco, Broadcom, Qualcomm, Advanced Micro Devices, Moderna, Intuitive Surgical and so on. It's a long list of recent winners.

Past performance is no guarantee of future results, however since inception in May 2015, the Betashares Nasdaq 100 ETF has delivered an average return per annum of around 24%.

Management costs are currently 0.48% per annum from BetaShares.

Lovisa Holdings Ltd (ASX: LOV)

Lovisa is a rapidly growing ASX share that specialises in providing affordable and stylish jewellery.

It has a global retail store network. Lovisa has a presence in many countries including Australia, South Africa, the USA, Malaysia, France, New Zealand, Singapore, the UK, Belgium, Germany, the Netherlands, Switzerland and Spain.

UBS is one of the brokers that likes Lovisa at the moment, with a price target of $21.25. The broker is attracted to the potential for the business to materially increase its store network over time.

It recently hired a new CEO, Victor Herrero, that has past experience with growing businesses in Asia and this could lead to Lovisa opening compelling store networks in China and India.

In a recent trading update, the ASX share said that global comparable store sales for the first 20 weeks of FY22 continued a "strong trajectory" with growth of 25.2% year on year. Total sales were up 46.1% despite the impacts of the ongoing lockdowns in Australia, New Zealand and Malaysia.

It currently has 570 stores in the global Lovisa store network, with 31 new stores opened since the end of FY21.

Lovisa continues to expand geographically. It recently opened two new franchise stores in Cyprus, bringing the geographical coverage to 21 countries globally.

The Lovisa share price is currently valued by UBS at 33x FY23's estimated earnings.

Motley Fool contributor Tristan Harrison has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia owns and has recommended BETANASDAQ ETF UNITS. The Motley Fool Australia has recommended Lovisa Holdings Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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