Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Itafos

Market Cap: CA$454.1m

Operates as a phosphate and specialty fertilizer company.

Cyprus Cement

Market Cap: €133.0m

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

Evergent Investments

Market Cap: RON 1.2b

A publicly owned investment manager.

Oakworth Capital

Market Cap: US$155.9m

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

ANSA Merchant Bank

Market Cap: TT$3.4b

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

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.

Flügger group

Market Cap: DKK 992.1m

Designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.

Trace Group Hold

Market Cap: лв175.4m

Through its subsidiaries, provides construction services for road infrastructure projects in Bulgaria and internationally.

SALUS Ljubljana d. d

Market Cap: €374.8m

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

Famous Brands

Market Cap: R6.4b

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

Sun

Market Cap: MU₨7.5b

Operates in the tourism sector.

Castellana Properties Socimi

Market Cap: €912.6m

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

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €400.7m

Operates as a cooperative bank in France.

Alantra Partners

Market Cap: €304.3m

Engages in the investment banking and asset management services in Spain and internationally.

Zona Franca de Iquique

Market Cap: CL$226.1b

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

Sociedad de Inversiones Oro Blanco

Market Cap: CL$978.2b

Through its subsidiaries, invests in various types of goods and securities in Chile.

Grenobloise d'Electronique et d'Automatismes Société Anonyme

Market Cap: €91.2m

Designs, develops, manufactures, integrates, installs, and maintains electronic and computerized toll collection systems.

West Bancorporation

Market Cap: US$317.8m

Operates as the financial holding company provides community banking and trust services to individuals and small- to medium-sized businesses in the United States.

Dekpol

Market Cap: zł516.8m

Dekpol S.A. primary engages in the general contracting and property development businesses in Poland.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

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

Gulf Island Fabrication

Market Cap: US$108.4m

Operates as a fabricator of steel structures and modules in the United States.

Martifer SGPS

Market Cap: €207.3m

Operates in the metallic constructions and renewable energy development sectors in Portugal, Angola, Saudi Arabia, Europe, and internationally.

Metalpha Technology Holding

Market Cap: US$134.4m

Provides wealth management services in Hong Kong.

Alumil Aluminium Industry

Market Cap: €169.2m

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

ABG Sundal Collier Holding

Market Cap: NOK 3.5b

Provides investment banking, stock broking, and corporate advisory services in Norway, Sweden, Denmark, and internationally.

Lavipharm

Market Cap: €133.3m

Engages in the research, development, manufacture, import, marketing, sale, and wholesale of pharmaceutical, cosmetics, and healthcare products to physicians and pharmacists in Greece and internationally.

Decora

Market Cap: zł818.5m

Engages in the production, distribution, sale, and export of flooring products and accessories in Poland.

Solesence

Market Cap: US$276.9m

A science-driven company, develops, manufactures, and sells integrated family of technologies in the United States.

Empresas Lipigas

Market Cap: CL$518.1b

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

Valhi

Market Cap: US$417.9m

Engages in the chemicals, component products, and real estate management and development businesses in Europe, North America, the Asia Pacific, and internationally.

Reitar Logtech Holdings

Market Cap: US$347.2m

Through its subsidiaries, provides construction management and engineering design services.

Purple Group

Market Cap: R2.1b

A financial services and technology company, engages in trading platforms, fractional property and crypto asset investing, retirement fund administration, and asset management businesses in South Africa.

Lampsa Hellenic Hotels

Market Cap: €828.9m

Operates hotels primarily in Greece, Cyprus, and Serbia.

First National Bank of Botswana

Market Cap: P13.3b

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