Global Undiscovered Gems With Strong Fundamentals

Zona Franca de Iquique

Market Cap: CL$233.6b

Operates premises for wholesale and retail business centers in the duty-free zones of South America.

Misr Beni Suef CementE

Market Cap: ج.م6.6b

Produces and sells cement products in Egypt and internationally.

Sun

Market Cap: MU₨7.5b

Operates in the tourism sector.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

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

ANSA Merchant Bank

Market Cap: TT$3.4b

Provides a range of banking and financial services in Trinidad and Tobago, and Barbados.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

Maistra d.d

Market Cap: €514.4m

Engages in the hotel business in Croatia.

Chilanga Cement

Market Cap: K6.1b

Engages in the manufacture and sale of cement products in Zambia.

Transcorp Power

Market Cap: ₦2.5t

Engages in the generation and sale of electric power in Nigeria and internationally.

Capricorn Group

Market Cap: R10.9b

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

Practic

Market Cap: RON 567.2m

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

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Padma Oil

Market Cap: ৳17.6b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Linde Bangladesh

Market Cap: ৳12.9b

Manufactures and supplies industrial and medical gases, anesthesia, and ancillary equipment in Bangladesh.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

Industrias del Cobre Sociedad Anónima

Market Cap: S/789.0m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Tohoku Steel

Market Cap: JP¥14.9b

Engages in the manufacturing, processing, and distribution of various types of special steel products in Japan.

Jamuna Bank

Market Cap: ৳15.9b

Provides various banking products and services in Bangladesh.

Darwin

Market Cap: €96.6m

Operates as a biotechnology company.

MAPFRE Middlesea

Market Cap: €137.1m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

Engages in the development and manufacture of generic and in-licensed medicines in Bulgaria.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.1m

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

Evergent Investments

Market Cap: RON 1.2b

A publicly owned investment manager.

Cyprus Cement

Market Cap: €131.7m

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

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

DorightLtd

Market Cap: CN¥2.9b

Engages in the design, research and development, manufacture, inspection, sale, and servicing of energy-saving environmental protection equipment in China.

Sinomag Technology

Market Cap: CN¥4.9b

Engages in the research and development, production, and sale of permanent ferrite magnets and soft magnetic cores and components worldwide.

Imexpharm

Market Cap: ₫7.8t

Manufactures, processes, trades, imports, and exports pharmaceutical products in Vietnam and internationally.

Advancetek EnterpriseLtd

Market Cap: NT$30.0b

Engages in the construction, rental, and sale of residential and commercial buildings in Taiwan.

Shandong Sinoglory Health Food

Market Cap: CN¥2.2b

Manufactures soy proteins in China.

Taiyo KagakuLtd

Market Cap: JP¥29.6b

Manufactures and sells ingredients for food, beverage, supplement, and cosmetic applications in Japan and internationally.

Xiangyang Changyuandonggu Industry

Market Cap: CN¥7.1b

Xiangyang Changyuandonggu Industry Co., Ltd.

Zhejiang Risun Intelligent TechnologyLtd

Market Cap: CN¥1.8b

Engages in the material transmission, warehousing, logistics, and sorting systems in industrial production in China.