Global Undiscovered Gems With Strong Fundamentals

Transcorp Power

Market Cap: ₦2.5t

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

Watt's

Market Cap: CL$231.9b

Manufactures and sells food products in Chile.

Sociedad Matriz SAAM

Market Cap: CL$1.2t

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$219.5b

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

NSIA Banque Société Anonyme

Market Cap: XOF 213.0b

Provides various banking products and services.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 246.9b

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

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

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.

Jadranski naftovod d.d

Market Cap: €775.9m

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

Marítima de Inversiones

Market Cap: CL$250.6b

Maritima de Inversiones SA is a publicly owned investment manager.

Castellana Properties Socimi

Market Cap: €893.4m

As of December 20, 2016, Castellana Properties Socimi, S.A.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 65.5b

Processes heavy bitumen crude in Africa.

ANSA Merchant Bank

Market Cap: TT$3.5b

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

First National Bank of Botswana

Market Cap: P13.2b

Provides various banking and related products and services to individuals, businesses, corporates, and private clients in Botswana.

Chilanga Cement

Market Cap: K6.0b

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

FineMark Holdings

Market Cap: US$329.8m

Operates as the holding company for FineMark National Bank & Trust that provides various banking products and financial services to individual and corporate clients.

Misr Beni Suef CementE

Market Cap: ج.م5.1b

Produces and sells cement products in Egypt and internationally.

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

Market Cap: ج.م11.4b

Engages in the establishment and management of technological zones, scientific incubators, and training centers for the preparation of researchers and the transfer of technology, and the provision of related services.

Shangri-La Hotel

Market Cap: ฿6.3b

Operates hotels in Bangkok and Chiang Mai provinces.

Hua Na Hydropower

Market Cap: ₫5.9t

Engages in the electricity generation activities.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Capricorn Group

Market Cap: R10.9b

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

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

Conoil

Market Cap: ₦229.8b

Conoil Plc markets refined petroleum products, and manufactures and markets lubricants, household, and liquefied petroleum gas (LPG) in Nigeria.

Compañía Electro Metalúrgica

Market Cap: CL$328.9b

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Industrias del Cobre Sociedad Anónima

Market Cap: S/762.2m

Engages in the manufacture and sale of cables and electrical and telecommunication conductors in Peru and internationally.

Quemchi

Market Cap: CL$95.2b

Quemchi, S.A. engages in maritime transport, cargo and shipping services, and investments businesses.

Procimmo Group

Market Cap: CHF 225.2m

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

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

SALUS Ljubljana d. d

Market Cap: €252.9m

Engages in the provision of distribution, promotion, active sales, and value-added services for the medicinal products in Slovenia and internationally.

Practic

Market Cap: RON 567.2m

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

Aesler Grup Internasional

Market Cap: Rp3.7t

Provides architectural and construction management services in Indonesia.

MAPFRE Middlesea

Market Cap: €133.4m

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

First IC

Market Cap: US$172.7m

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

Wooyang HC

Market Cap: ₩387.1b

Engages in the production and sale of equipment for use in petrochemical, power, and fine chemical plants.