Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Alf Meem Yaa for Medical Supplies and Equipment

Market Cap: ر.س657.3m

Engages in the wholesale and retail trade of medical supplies for the aesthetic market in the Kingdom of Saudi Arabia.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.3b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.

Joyce

Market Cap: AU$166.8m

Joyce Corporation Ltd retails kitchen and wardrobe products in Australia.

Jordanian Duty Free Shops

Market Cap: د.أ148.5m

Invests in, operates, and manages duty-free shops.

Envirotainer

Market Cap: €398.1m

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

Kingstone Companies

Market Cap: US$218.8m

Through its subsidiary, Kingstone Insurance Company ("KICO"), provides property and casualty insurance products in the United States.

Jamuna Bank

Market Cap: ৳22.5b

Provides various banking products and services in Bangladesh.

Standard Bank

Market Cap: MK 995.9b

Provides banking and other related services in Malawi.

Telekom Networks Malawi

Market Cap: MK 355.5b

Provides telecommunication services to enterprises and individual customers in Malawi.

Seneca Foods

Market Cap: US$963.3m

Provides packaged fruits and vegetables in the United States and internationally.

Freetrailer Group

Market Cap: €547.1m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Namibia Breweries

Market Cap: R6.3b

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

Soma Gold

Market Cap: CA$220.8m

A natural resource company, engages in the acquisition, exploration, and development of mineral properties in Columbia.

First Bancorp

Market Cap: US$308.4m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Inversiones Doalca SOCIMI

Market Cap: €156.6m

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

Winchester Bancorp

Market Cap: US$119.6m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

A3 Mercados

Market Cap: AR$698.8b

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

Sopharma AD

Market Cap: €888.2m

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

First National Bank of Botswana

Market Cap: P14.4b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Affinity Bancshares

Market Cap: US$116.1m

Operates as the holding company for Affinity Bank that provides various banking products and services in Georgia.

NameSilo Technologies

Market Cap: US$121.1m

Through its subsidiaries, provides domain name registration services in the United States, East and South Asia, South East Asia, Australasia, and internationally.

Vivo Energy Mauritius

Market Cap: MU₨13.1b

Vivo Energy Mauritius Limited markets, supplies, and distributes fuels and lubricants to retail and commercial customers in Mauritius.

Sociedad Matriz SAAM

Market Cap: CL$1.5t

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$2.1b

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

Potasios de Chile

Market Cap: CL$829.2b

Engages in investment in shares and other financial instruments in Chile.

Epsilon Energy

Market Cap: US$167.7m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Cashmere Valley Bank

Market Cap: US$253.3m

A state chartered bank, provides banking products and services to small and middle-market businesses, and retail customers.

Export Development Bank of Egypt (S.A.E.)

Market Cap: ج.م21.8b

Provides various banking products and services in Egypt.

Suez Canal Company for Technology Settling (S.A.E)

Market Cap: ج.م23.9b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.

New Mauritius Hotels

Market Cap: MU₨7.2b

Operates hotels in Mauritius, Europe, Morocco, and internationally.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Itafos

Market Cap: CA$829.3m

Operates as a phosphate and specialty fertilizer company.

Central Forest Group

Market Cap: JP¥22.8b

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

Procimmo Group

Market Cap: CHF 378.4m

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

Lion Capital

Market Cap: RON 2.4b

SIF Banat-Crisana is a self-managed closed-end investment company and since March 2018, it is authorized by ASF as alternative investment fund manager.