Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Mobile Telecommunications

Market Cap: R6.9b

Operates as a mobile telecommunications company in Namibia.

Cyprus Cement

Market Cap: €164.6m

Engages in the manufacturing and sale of cement and related business in Cyprus.

ABG Sundal Collier Holding

Market Cap: NOK 4.2b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Mangold Fondkommission

Market Cap: SEK 941.7m

Provides financial services to companies, institutions, and private individuals in Sweden.

Deutsche Balaton

Market Cap: €238.1m

A private equity focusing on private equity investments in listed and unlisted companies, real estate investments and investments in other assets.

Envirotainer

Market Cap: €398.1m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

Grendene

Market Cap: R$4.8b

Engages in the development, production, distribution, and sale of plastic footwear for women, men, and children in Brazil and internationally.

Sparta

Market Cap: €125.6m

A publicly owned investment manager.

Sopharma AD

Market Cap: лв1.4b

Produces, distributes, and exports pharmaceutical products in Europe, Bulgaria, and internationally.

Oakworth Capital

Market Cap: US$203.8m

Operates as a bank holding company for Oakworth Capital Bank that provides range of banking services in the United States.

Morris State Bancshares

Market Cap: US$264.7m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

First Investment Bank AD

Market Cap: лв864.7m

Provides various banking products and services to individuals and corporate clients in Bulgaria and Cyprus.

Southern Michigan Bancorp

Market Cap: US$114.6m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Central Cooperative Bank AD

Market Cap: лв244.1m

A commercial bank, provides various financial products and services.

Namibia Breweries

Market Cap: R6.2b

Engages in brewing and distribution of alcoholic beverages, and manufacture of soft drinks in Namibia and South Africa.

Darwin

Market Cap: €93.0m

Operates in the healthcare industry.

Procimmo Group

Market Cap: CHF 360.4m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

Tri-County Financial Group

Market Cap: US$116.5m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Smart Organic AD

Market Cap: лв369.7m

Produces and distributes organic food products in Bulgaria, the European Union, Asia, and the Americas.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.8b

Develops, manufactures, and sells medicines in Bulgaria.

Gulf Insurance Group - Jordan

Market Cap: د.أ79.3m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Jinsanjiang (Zhaoqing) Silicon Material

Market Cap: CN¥3.0b

Engages in the research and development, production, and sale of precipitated silica.

Palasino Holdings

Market Cap: HK$1.9b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

Top Union Electronics

Market Cap: NT$4.4b

Engages in design, manufacture, and technical support of electronic products and communication equipment in Taiwan, the United States, and China.

Zhejiang Jinghua Laser TechnologyLtd

Market Cap: CN¥4.5b

Develops, manufactures, and sells laser holographic molded products.

GakkyushaLtd

Market Cap: JP¥25.6b

Operates and manages cram schools in Japan.

Zhongyeda Electric

Market Cap: CN¥5.0b

Engages in the distribution of industrial electrical products in China.

Sichuan Zigong Conveying Machine Group

Market Cap: CN¥7.7b

Sichuan Zigong Conveying Machine Group Co., Ltd.

Praise Victor Industrial

Market Cap: NT$10.6b

Designs, produces, and trades in polyurethanes (PU) materials.

Anpec Electronics

Market Cap: NT$16.0b

Engages in the design, testing, production, and marketing of mixed-signal power chips and sensors in Taiwan and internationally.

Hangzhou Zhengqiang

Market Cap: CN¥5.3b

Engages in the research, development, production, and sales of automobile cross-axle universal joint assemblies, forks, cross shafts, yokes, and related components in China and internationally.

Zhejiang Chinastars New Materials Group

Market Cap: CN¥4.8b

Zhejiang Chinastars New Materials Group Co., Ltd.

Shenyang Yuanda Intellectual Industry GroupLtd

Market Cap: CN¥3.4b

Researches, develops, manufactures, installs, sells, and maintains elevators in China and internationally.

OUG Holdings

Market Cap: JP¥20.9b

Through its subsidiaries, engages in the wholesale of marine products in Japan.

Kappa Create

Market Cap: JP¥77.8b

Engages in the management of restaurants in Japan.