Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells ultraviolet indicators in Sweden, the United Kingdom, the United States, Europe, China, and internationally.

Practic

Market Cap: RON 825.6m

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

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.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 109.1b

Processes heavy bitumen crude in Africa.

ANSA Merchant Bank

Market Cap: TT$2.1b

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

Onix Solar Energy

Market Cap: ₹14.4b

Engages in the trading of non-ferrous metals in India.

Gulf Insurance Group - Jordan

Market Cap: د.أ80.1m

Engages in the insurance business in Jordan, the Middle East, North Africa, Europe, Asia, America, and the Near East.

Bahrain National Holding Company B.S.C

Market Cap: ب.د62.4m

Provides insurance and investment products in the Kingdom of Bahrain, other GCC countries, and internationally.

Canal Shipping Agencies

Market Cap: ج.م9.1b

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

Acsion

Market Cap: R4.2b

Engages in property holding and development activities in South Africa and internationally.

Empresas Lipigas

Market Cap: CL$939.3b

Engages in the distribution and sale of liquefied petroleum gas (LPG), natural gas (NG), and liquefied natural gas (LNG) in Chile, Peru, and Colombia.

Central Forest Group

Market Cap: JP¥22.5b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 585.0b

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

Mobile Telecommunications

Market Cap: R7.0b

Operates as a mobile telecommunications company in Namibia.

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.

Compañía Electro Metalúrgica

Market Cap: CL$560.6b

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

Chilanga Cement

Market Cap: K16.2b

Engages in the manufacture and sale of cement products in Zambia.

Envirotainer

Market Cap: €404.0m

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

Telekom Networks Malawi

Market Cap: MK 358.9b

Provides telecommunication services to enterprises and individual customers in Malawi.

Procimmo Group

Market Cap: CHF 373.9m

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

New Mauritius Hotels

Market Cap: MU₨7.6b

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

Sun

Market Cap: MU₨7.6b

Operates in the tourism sector.

Sopharma AD

Market Cap: €971.0m

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

GB Holdings

Market Cap: US$54.7m

Produces rubber and chemical products in Zimbabwe.

Namibia Breweries

Market Cap: R6.2b

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

Lion Capital

Market Cap: RON 2.7b

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.

Standard Bank

Market Cap: MK 996.1b

Provides banking and other related services in Malawi.

Sociedad Matriz SAAM

Market Cap: CL$1.4t

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

Soma Gold

Market Cap: CA$278.5m

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

Union Bankshares

Market Cap: US$109.1m

Operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States.

Kingstone Companies

Market Cap: US$222.7m

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

Epsilon Energy

Market Cap: US$146.8m

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.

ASA Gold and Precious Metals

Market Cap: US$1.4b

A publicly owned investment manager.

First Bancorp

Market Cap: US$310.6m

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