The ASX stock MFF Capital Investments Ltd (ASX: MFF) is one business I bought this week and that I plan to buy a lot more this year.

MFF used to be a pure listed investment company (LIC), but the recent acquisition of the fund manager Montaka has added an operating segment to the business and provided an additional growth avenue. It also reduces the reliance on the key fund manager, Chris Mackay, to bring other skilled individuals into the MFF business.

The recent US election created a lot of geopolitical uncertainty, but now investors know who won and have an indication of what this could mean for the future. Trump has suggested a number of things he wants to do, including tax cuts and tariffs.

Time will tell how his presidency and full Republican Congress control play out. But, I believe the strongest global companies will continue to succeed, which is why I like MFF as an ASX stock idea.

Strong and diversified portfolio

When I think about some of the strongest global businesses with the best economic moats and the potential to keep improving their earnings, I'm drawn to many of the leading global blue chips. The MFF portfolio owns many of them.

The following holdings made up 60% of the MFF portfolio at the end of October:

• Alphabet (13.4%)
• Amazon (11.9%)
• Mastercard (10.6%)
• Visa (9.8%)
• Meta Platforms (7.9%)
• Microsoft (6.4%)

Some of MFF's other larger positions, such as American Express, Bank of America, and Home Depot, also have compelling futures.

I'm happy to indirectly own these businesses, and any other global companies the MFF investment team believes are long-term opportunities in the future.

The portfolio has performed well in the long term. Over the past decade, the ASX stock has delivered an average total shareholder return (TSR) per annum of 13.4%, according to CMC. I think the portfolio can continue to perform from here.

Appealing asset discount

Businesses such as MFF with investment portfolios regularly tell investors their underlying value using a figure called net tangible assets (NTA). I usually focus on the pre-tax NTA because it's unlikely that MFF would sell its whole portfolio. Besides, any income tax paid can benefit shareholders in the form of franking credits.

Each week, MFF tells investors its NTA. On 8 November 2024, the pre-tax NTA was $4.775. That means the ASX stock is currently trading at a 10% discount to the NTA from last week. US shares have collectively risen since then, so the discount today could be wider than that.

Growing dividend

I like owning growing businesses that pay dividends because I don't need to sell shares (and activate a capital gains tax event) to benefit from the company's growth.

MFF has grown its annual ordinary dividend each year since 2018 and intends to grow it again in FY25. With guidance of an 8 cents per share dividend with the upcoming HY25 result, this means that at the current MFF share price, it could provide a grossed-up dividend yield of 5.3% in FY25.

Overall, I think there's a lot to like about this ASX stock.