Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Sociedad Matriz SAAM

Market Cap: CL$1.3t

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

Zona Franca de Iquique

Market Cap: CL$232.8b

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

First National Bank of Botswana

Market Cap: P13.9b

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

Capricorn Group

Market Cap: R11.7b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 403.3b

Engages in the manufacture and sale of beer, soft drinks, mineral water, alcomixes, and energy drink products.

Standard Bank

Market Cap: MK 1.2t

Provides banking and other related services in Malawi.

ANSA Merchant Bank

Market Cap: TT$2.7b

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

Telekom Networks Malawi

Market Cap: MK 366.0b

Provides telecommunication services to enterprises and individual customers in Malawi.

Zambia Sugar

Market Cap: K20.7b

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

Central Forest Group

Market Cap: JP¥21.3b

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

Transcorp Power

Market Cap: ₦2.6t

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

Taiyo KagakuLtd

Market Cap: JP¥38.0b

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

Pabrik Kertas Tjiwi Kimia

Market Cap: Rp21.5t

Manufactures and sells writing and printing paper products in Asia, Africa, Europe, the Middle East, the United States, and internationally.

Payton Industries

Market Cap: ₪520.6m

Develops, produces, trades, markets, and sells various types of transformers for communications, electronics, automotive, and industrial equipment industries in Israel, Europe, the United States, and Asia.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺35.2b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret

Market Cap: ₺7.9b

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret A.S.

MIA Teknoloji Anonim Sirketi

Market Cap: ₺19.8b

Provides software development services to public and private organizations in Turkey.

Padma Oil

Market Cap: ৳18.9b

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

Famous Brands

Market Cap: R5.2b

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

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.

Master Drilling Group

Market Cap: R2.4b

An investment holding company, provides specialized drilling services to blue chip major and mid-tier companies in the mining, civil engineering, construction, and hydroelectric power sectors.

Evergent Investments

Market Cap: RON 2.4b

A publicly owned investment manager.

Menthobi Karyatama Raya

Market Cap: Rp1.7t

Engages in the cultivation and development of palm oil plantations; and crude palm oil processing activities and related derivative products primarily in Indonesia.

Citra Tubindo

Market Cap: Rp4.2t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi

Market Cap: ₺12.5b

Sönmez Filament Sentetik Iplik ve Elyaf Sanayi A.S.

Birikim Varlik Yonetim Anonim Sirketi

Market Cap: ₺4.7b

Operates as an asset management company.

Pizu Group Holdings

Market Cap: HK$3.3b

An investment holding company, manufactures, trades, and sales of civil explosives in the People's Republic of China and Tajikistan.

Rotshtein Realestate

Market Cap: ₪1.4b

Develops and executes residential projects in Israel.

Central Cooperative Bank AD

Market Cap: лв211.0m

A commercial bank, provides various financial products and services.

Alumil Aluminium Industry

Market Cap: €165.3m

Engages in the design and production of architectural aluminum systems in Greece and internationally.

Ruentex Interior Design

Market Cap: NT$3.5b

Engages in the interior design and decoration, landscape design engineering, and construction businesses in Taiwan.

Jamuna Bank

Market Cap: ৳19.7b

Provides various banking products and services in Bangladesh.

C. Mer Industries

Market Cap: ₪387.2m

Provides solutions in the areas of homeland security (HLS), communication infrastructure, and defense technologies.

Telematic Interactive Bulgaria EAD

Market Cap: лв268.9m

Offers online betting and gambling services.

Hospital Corporation of China

Market Cap: HK$802.6m

An investment holding company, owns, operates, and manages hospitals in the People’s Republic of China.