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.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Bank of Africa Mali

Market Cap: XOF 82.4b

Provides various banking products and services to individuals, business customers, and SMEs in Mali.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 268.3b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 71.2b

Processes heavy bitumen crude in Africa.

Oakworth Capital

Market Cap: US$156.7m

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

Morris State Bancshares

Market Cap: US$249.7m

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

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Sparta

Market Cap: €86.8m

A publicly owned investment manager.

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.

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

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.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

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

Practic

Market Cap: RON 570.2m

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Darwin

Market Cap: €96.6m

Operates as a biotechnology company.

Capricorn Group

Market Cap: R10.9b

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

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.

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

Evergent Investments

Market Cap: RON 1.3b

A publicly owned investment manager.

Cyprus Cement

Market Cap: €130.3m

Engages in the manufacturing and sale of cement and related business in Cyprus.

Allmed Medical ProductsLtd

Market Cap: CN¥5.4b

Engages in the manufacture and sale of wound care and nursing material products in China.

Citra Tubindo

Market Cap: Rp5.7t

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

Uniplus Electronics

Market Cap: NT$4.9b

Engages in the research and development, manufacture, processing, and trading of printed circuit boards in Taiwan.

Guangzhou Devotion Thermal Technology

Market Cap: CN¥2.5b

Guangzhou Devotion Thermal Technology Co., Ltd.

Cahaya Aero Services

Market Cap: Rp4.5t

PT Cardig Aero Services Tbk, together with its subsidiaries, provides ground and cargo handling, aircraft release and maintenance, catering, facility management, and aviation training services in Indonesia.

Forest Packaging GroupLtd

Market Cap: CN¥3.1b

Forest Packaging Group Co.,Ltd., along with its subsidiaries, manufactures and sells various paper packaging products in China and internationally.

Yantai Ishikawa Sealing Technology

Market Cap: CN¥3.1b

Yantai Ishikawa Sealing Technology Co., Ltd.

Eclatorq Technology

Market Cap: NT$3.2b

Manufactures and sells hand tools in Taiwan.

Zhejiang JW Precision MachineryLtd

Market Cap: CN¥6.6b

Engages in the research and development, production, and sale of bearing rings in China and internationally.

VICOM

Market Cap: S$507.0m

An investment holding company, provides motor vehicle inspection; and non-vehicle testing, inspection, and consultancy services in Singapore.

Lemtech Holdings

Market Cap: NT$5.2b

Research, develops, produces, and sells precision metal dies and metal stampings in Asia, the Americas, and Europe.

Pacific Construction

Market Cap: NT$3.8b

Engages in the construction business in Taiwan and Malaysia.