Due to the quality on offer inside it, I think the mid cap space is a great place to look for buy and hold investment options.
Three mid cap ASX shares that I would buy now with a long term view are listed below:
Bravura Solutions Ltd (ASX: BVS)
Bravura Solutions is a provider of software products and services to clients operating in the wealth management and funds administration industries. Due to a continually evolving regulatory environment, end-consumer demand for an intuitive digital interface, and the need to deliver operational efficiencies in financial services, the company has experienced strong demand for its services in recent years. This certainly was the case in FY 2018 when Bravura Solutions delivered a 27% increase in underlying net profit after tax. Pleasingly, it remains the case today with management expecting to deliver mid-teen earnings per share growth in FY 2019.
NEXTDC Ltd (ASX: NXT)
NEXTDC is a data centre operator which has been a big winner from the cloud computing boom. Over the last five years the company has experienced increasing demand for its services, leading to customer numbers growing by a compound annual growth rate of 49% and interconnections by a compound annual growth rate of 76%. The latter reflects the increasing use of hybrid cloud and connectivity both inside and outside the data centre as customers expand their ecosystems. Pleasingly, this ecosystem growth is expected to drive higher margins and customer retention in the future. NEXTDC's shares are trading on sky high multiples, though, so may only be suitable for investors with a high tolerance for risk.
Webjet Limited (ASX: WEB)
Another mid cap option to consider is this online travel agent. Over the last five years the shift to online booking has led to the company growing its earnings by an average of 34% per annum. The good news is that Webjet is expected to continue its run of strong growth in FY 2019 with management predicting EBITDA growth of 26% year on year. This guidance doesn't include the recently acquired Destinations of the World business. I think this makes its shares great value at 20x estimated forward earnings.
