Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Standard Bank

Market Cap: MK 998.5b

Provides banking and other related services in Malawi.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.0b

Provides wholesale banking services worldwide.

Smart Organic AD

Market Cap: лв372.0m

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

First Northern Community Bancorp

Market Cap: US$211.5m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

Zambia Sugar

Market Cap: K21.1b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Morris State Bancshares

Market Cap: US$266.3m

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

Central Cooperative Bank AD

Market Cap: лв237.7m

A commercial bank, provides various financial products and services.

Inverfal PerúA

Market Cap: S/1.9b

Engages in investing in fixed or variable income securities in Peru.

Compañía Electro Metalúrgica

Market Cap: CL$387.7b

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

Industrias del Cobre Sociedad Anónima

Market Cap: S/766.7m

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

La Positiva Seguros y Reaseguros

Market Cap: S/602.9m

Provides insurance and reinsurance products and services to individuals and business customers in Peru.

Southern Michigan Bancorp

Market Cap: US$110.5m

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.

Sociedad Eléctrica del Sur Oeste

Market Cap: S/867.8m

Distributes electricity in Peru.

Alfin Banco

Market Cap: S/433.7m

Provides various banking and financial products and services.

Jordanian Duty Free Shops

Market Cap: د.أ144.0m

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

Namibia Breweries

Market Cap: R6.2b

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

Liburnia Riviera Hoteli d.d

Market Cap: €154.3m

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

Oakworth Capital

Market Cap: US$180.2m

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

Practic

Market Cap: RON 760.3m

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

Productive Business Solutions

Market Cap: US$150.6m

Engages in the distribution of printing equipment, business machines, handsets, and related accessories.

Zhejiang Risun Intelligent TechnologyLtd

Market Cap: CN¥4.5b

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

Thai Steel Cable

Market Cap: ฿3.9b

Manufactures and distributes automobile and motorcycle control cables, and automobile window regulators in Thailand.

Nextronics Engineering

Market Cap: NT$4.3b

Provides connectors, thermal, backplane, and subracks for medical, aerospace, transportation, industry, and communication applications in Taiwan.

Chinyang Holdings

Market Cap: ₩186.1b

Through its subsidiaries, engages in the manufacture and sale of plastic and automotive part products.

Li Ming Development Construction

Market Cap: NT$4.2b

Li Ming Development Construction Co., Ltd.

Oriental Precision & EngineeringLtd

Market Cap: ₩364.4b

Oriental Precision & Engineering Co.,Ltd.

Wholetech System Hitech

Market Cap: NT$9.5b

Provides system integration services in Taiwan, China, Japan, and Singapore.

Jiangyin Haida Rubber And Plastic

Market Cap: CN¥5.5b

Jiangyin Haida Rubber And Plastic Co., Ltd.

Wuxi Double Elephant Micro Fibre MaterialLtd

Market Cap: CN¥4.3b

Manufactures and sells artificial and synthetic leather products in the People’s Republic of China and internationally.

House of Investments

Market Cap: ₱6.5b

An investment holding company, engages in the automotive, property and property services, financial services, and education businesses in the Philippines and internationally.

Changzhou Nrb

Market Cap: CN¥6.9b

Engages in the research, development, manufacture, and sale of auto precision bearing products in China and internationally.

Baazeem Trading

Market Cap: ر.س613.6m

Operates as a FMCG distribution company.

Cresco

Market Cap: JP¥69.2b

Engages in the provision of information technology (IT) services and digital solutions in Japan.

Nanfang Ventilator

Market Cap: CN¥5.7b

Engages in the research and development, production and sale of ventilation and air handling systems in China.

Camelot Electronics TechnologyLtd

Market Cap: CN¥4.3b

Engages in the research, production, and sale of printed circuit boards for intelligent electric vehicles in China and internationally.