Global Undiscovered Gems With Strong Fundamentals

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.

Famous Brands

Market Cap: R6.4b

Through its subsidiaries, operates as a quick service and casual dining restaurant franchisor in the United Kingdom, South Africa, South African Development Community, Middle East, and Rest of Africa.

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

Purple Group

Market Cap: R2.0b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

MAPFRE Middlesea

Market Cap: €128.8m

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

Sparta

Market Cap: €86.8m

A publicly owned investment manager.

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Practic

Market Cap: RON 570.2m

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

ISE Chemicals

Market Cap: JP¥129.0b

Engages in the iodine and natural gas, and metallic compound businesses in Japan.

Zambia Sugar

Market Cap: K13.2b

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

Capricorn Group

Market Cap: R10.9b

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

Darwin

Market Cap: €96.6m

Operates as a biotechnology company.

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.

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Jadranski naftovod d.d

Market Cap: €826.3m

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

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

Bakrie & Brothers

Market Cap: Rp4.9t

Through its subsidiaries, engages in the trading, construction, agriculture, coal mining, oil and gas, and telecommunication businesses in Indonesia and internationally.

FALCO HOLDINGS

Market Cap: JP¥23.3b

A medical service company, provides clinical testing and dispensing pharmacy services to medical institutions and companies in Japan.

Center International GroupLtd

Market Cap: CN¥5.1b

Provides building metal enclosure systems solutions in China.

ITCENGLOBAL

Market Cap: ₩614.9b

Provides consulting, ICT, and outsourcing services and solutions in South Korea.

Toho

Market Cap: JP¥31.6b

Through its subsidiaries, engages in the food wholesale, cash and carry, and supermarket businesses primarily in Japan.

Hefei Gocom Information TechnologyLtd

Market Cap: CN¥1.5b

Hefei Gocom Information Technology Co.,Ltd.

Central Finance

Market Cap: LK₨54.4b

Provides various financial solutions primarily in Sri Lanka.

Daoming Optics&ChemicalLtd

Market Cap: CN¥5.4b

Engages in the research and development, production, and sale of reflective materials and products worldwide.

Guangdong Transtek Medical Electronics

Market Cap: CN¥3.1b

Provides smart wearables and mobile medical care products in China and internationally.

Standard Chartered Bank Kenya

Market Cap: KSh106.6b

Provides various banking products and services for individuals and businesses.

Shanghai SK Automation TechnologyLtd

Market Cap: CN¥5.9b

Engages in the research, development, production, and sale of intelligent manufacturing equipment for new energy vehicles and fuel vehicles.

Yashima Denki

Market Cap: JP¥35.8b

Provides plant business, industry/equipment, and transportation business in Japan and internationally.

Macpower CNC Machines

Market Cap: ₹9.3b

Manufactures and sells computer numerical control (CNC) metal cutting machines in India.

Om Infra

Market Cap: ₹12.0b

Engages in the design, engineering, manufacture, supply, installation, testing, and commissioning of hydro mechanical equipment for hydroelectric power and irrigation projects in India and internationally.

TOMONY Holdings

Market Cap: JP¥103.1b

Through its subsidiaries, provides various banking and financial products and services.

Silvery Dragon Prestressed MaterialsLTD Tianjin

Market Cap: CN¥6.1b

Manufactures and sells prestressed steel products in China and internationally.

Wuxi Xinan Technology

Market Cap: CN¥2.6b

Engages in the research, development, production, and sale of aluminum alloy auto parts for commercial vehicles and passenger cars.