Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ629.3m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

Hua Na Hydropower

Market Cap: ₫5.3t

Engages in the investment, production, and trading of electricity in Vietnam.

SALUS Ljubljana d. d

Market Cap: €526.0m

Engages in the distribution, promotion, sales services, and value-added services for medicinal products or medical devices in Slovenia and internationally.

Bank MNC Internasional

Market Cap: Rp2.4t

Provides various banking products and services in Indonesia.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €100.5m

Provides electronic toll collection systems in France, rest of the European Union, rest of Europe, Asia, the Americas, and Africa.

Shahjalal Islami Bank

Market Cap: ৳19.4b

Provides commercial banking products and services in Bangladesh.

Central Forest Group

Market Cap: JP¥22.5b

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

Padma Oil

Market Cap: ৳17.4b

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

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

Market Cap: ج.م23.8b

Provides various banking products and services in Egypt.

Canal Shipping Agencies

Market Cap: ج.م9.1b

Provides various shipping services to the international commercial fleet in Egypt.

Jamuna Bank

Market Cap: ৳21.8b

Provides various banking products and services in Bangladesh.

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

Market Cap: ج.م38.6b

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.

Quest Holdings

Market Cap: €729.3m

Engages in the distribution of information technology and telecommunications products in Greece, Romania, Cyprus, Luxembourg, Belgium, Spain, and Italy.

Palasino Holdings

Market Cap: HK$1.5b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

Yibin City Commercial Bank

Market Cap: HK$12.1b

Provides banking and financial products and services to small and micro enterprises in the People’s Republic of China.

Ceylinco Holdings

Market Cap: LK₨75.6b

Ceylinco Holdings PLC underwrites various classes of general and life insurance products primarily in Sri Lanka.

Soma Gold

Market Cap: CA$227.9m

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

Bijou Brigitte modische Accessoires

Market Cap: €373.2m

Manufactures, imports, and sells fashion jewelry, gold and silver jewelry, fashion accessories, and complementary articles.

Mobile Telecommunications

Market Cap: R7.0b

Operates as a mobile telecommunications company in Namibia.

A3 Mercados

Market Cap: AR$736.0b

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

ManpowerGroup Greater China

Market Cap: HK$1.1b

An investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

New Mauritius Hotels

Market Cap: MU₨7.3b

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

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.

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret

Market Cap: ₺14.1b

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret A.S.

Smart Shooter

Market Cap: ₪970.2m

Designs and develops fire control systems in Israel, North America, Europe, Australia and New Zealand.

Marvipol Development

Market Cap: zł451.9m

Develops residential projects in Poland.

Tureks Turizm Tasimacilik Anonim Sirketi

Market Cap: ₺9.8b

Engages in group transportation, and fleet and individual vehicle rental activities in Turkey.

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.

Terminal X Online

Market Cap: ₪995.2m

Engages in the marketing and sale of fashion and lifestyle products in Israel.

Payton Industries

Market Cap: ₪570.0m

Engages in the development, production, and marketing of transformers in Israel, Asia, Europe, the United States, and internationally.

Odas Elektrik Üretim Sanayi Ticaret

Market Cap: ₺10.1b

Produces and sells electricity by natural gas combined cycles in Turkey and internationally.

Chobe Holdings

Market Cap: P1.7b

Through its subsidiaries, engages in owning and operating ecotourism lodges and camps on leased lands in northern Botswana and the Caprivi Strip in Namibia.

Tohoku Steel

Market Cap: JP¥16.7b

Manufactures, processes, and distributes various types of special steel products in Japan.