Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Liburnia Riviera Hoteli d.d

Market Cap: €145.9m

Provides accommodation and hospitality services in Croatia, Germany, Austria, Italy, Hungary, Slovenia, Ukraine, Czech, other European countries, and internationally.

SALUS Ljubljana d. d

Market Cap: €402.7m

Engages in the distribution, promotion, sales services, and value-added services for medicinal products or medical devices in Slovenia and internationally.

Empresas Lipigas

Market Cap: CL$946.5b

Engages in the distribution and sale of liquefied petroleum gas (LPG), natural gas (NG), and liquefied natural gas (LNG) in Chile, Peru, and Colombia.

Sociedad Matriz SAAM

Market Cap: CL$1.4t

Through its subsidiaries, provides tugboat services, air cargo logistics, and real estate rentals in South America, Central America, and North America.

AB Akola Group

Market Cap: €306.5m

Through its subsidiaries, engages in the production, preparation, and sale of agricultural and food products in Lithuania, Scandinavian, rest of Europe, Africa, Asia, and CIS countries.

Dekpol

Market Cap: zł722.5m

Dekpol S.A. primary engages in the general contracting and steel structures and equipment businesses in Poland.

Procimmo Group

Market Cap: CHF 360.4m

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

Namibia Breweries

Market Cap: R6.2b

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

RÁBA Jármuipari Holding Nyrt

Market Cap: Ft39.9b

Manufactures and sells vehicle components in Hungary, Germany, rest of Europe, the United States, Asia, and Australia.

Mobile Telecommunications

Market Cap: R6.9b

Operates as a mobile telecommunications company in Namibia.

Evergent Investments

Market Cap: RON 2.4b

A publicly owned investment manager.

KABE Group AB (publ.)

Market Cap: SEK 1.9b

Engages in the construction and sale of caravans, motorhomes, and camping accessories in Sweden, the United Kingdom, Germany, Norway, Finland, Denmark, Poland, and internationally.

Mangold Fondkommission

Market Cap: SEK 927.6m

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

Grendene

Market Cap: R$4.1b

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.

Central Forest Group

Market Cap: JP¥22.5b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

Jadranski naftovod d.d

Market Cap: €786.0m

Engages in the transport and storage of crude oil and petroleum products in the Republic of Croatia and internationally.

Compañía Electro Metalúrgica

Market Cap: CL$387.7b

Operates as producers and vendors of integrated solutions for the mining market in Chile and internationally.

Dn Agrar Group

Market Cap: RON 445.5m

Engages in the production of cow milk.

Maistra d.d

Market Cap: €651.2m

Engages in the hotel business in Croatia.

Arendals Fossekompani

Market Cap: NOK 7.4b

An industrial investment company, provides cyber secure satellite and mobile communications in Norway, Europe, Asia, and North America.

Practic

Market Cap: RON 950.3m

Engages in the lease and sublease of real estate properties in Romania.

FRoSTA

Market Cap: €614.5m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Capricorn Group

Market Cap: R13.2b

An investment holding company, engages in the banking, microlending, and related businesses in Namibia, Botswana, and Zambia.

A3 Mercados

Market Cap: AR$796.8b

Operates as a market for negotiable securities in Argentina and internationally.

ABG Sundal Collier Holding

Market Cap: NOK 4.2b

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

AGI Infra

Market Cap: ₹32.1b

Agi Infra Limited, together with its subsidiary, engages in the real estate and construction businesses in India.

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.

Baazeem Trading

Market Cap: ر.س673.3m

Operates as a FMCG distribution company.

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells ultraviolet indicators in Sweden, the United Kingdom, the United States, Europe, China, and internationally.

Onix Solar Energy

Market Cap: ₹11.1b

Engages in the trading of non-ferrous metals in India.

Indo Amines

Market Cap: ₹9.4b

Engages in the manufacture, distribution, and sale of fine, performance, and specialty chemicals in India and internationally.

Gujarat State Fertilizers & Chemicals

Market Cap: ₹72.5b

Produces and sells fertilizers and chemicals in India.

BLS E-Services

Market Cap: ₹18.4b

A technology enabled digital service company, provides assisted E-services and E-governance services in India and internationally.

Mamata Machinery

Market Cap: ₹10.7b

Mamata Machinery Limited manufacture and sells plastic bag and pouch making systems in India and internationally.