Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

FRoSTA

Market Cap: €634.9m

Develops, produces, and markets frozen food products in Germany, Poland, Austria, Italy, and Eastern Europe.

Central Forest Group

Market Cap: JP¥21.7b

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

Gulf Insurance Group - Jordan

Market Cap: د.أ78.0m

Engages in the insurance business in Jordan, Middle East, and North Africa region.

Shangri-La Hotel

Market Cap: ฿5.4b

Operates hotels in Bangkok and Chiang Mai provinces.

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$25.6b

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E) was founded in 2018 and is based in Mexico.

Procimmo Group

Market Cap: CHF 364.9m

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

Capricorn Group

Market Cap: R13.2b

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

Bahrain National Holding Company B.S.C

Market Cap: ب.د61.7m

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

Epsilon Energy

Market Cap: US$117.4m

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.

Jadranski naftovod d.d

Market Cap: €806.1m

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

Southern Michigan Bancorp

Market Cap: US$110.9m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and governmental agencies primarily in the southwest and south-central Michigan communities.

Namibia Breweries

Market Cap: R6.2b

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

Intellego Technologies

Market Cap: SEK 1.6b

Manufactures and sells colorimetric ultraviolet indicators in Sweden.

Freetrailer Group

Market Cap: €753.0m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

Mobile Telecommunications

Market Cap: R6.9b

Operates as a mobile telecommunications company in Namibia.

Tri-County Financial Group

Market Cap: US$115.9m

Operates as a bank holding company for First State Bank, providing various banking and mortgage banking services and insurance services to individuals and businesses in the United States.

Alfin Banco

Market Cap: S/433.7m

Provides various banking and financial products and services.

Inverfal PerúA

Market Cap: S/1.9b

Engages in investing in fixed or variable income securities in Peru.

Industrias del Cobre Sociedad Anónima

Market Cap: S/766.7m

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

Union Bankshares

Market Cap: US$106.4m

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

La Positiva Seguros y Reaseguros

Market Cap: S/602.9m

Provides insurance and reinsurance products and services to individuals and business customers in Peru.

Sociedad Eléctrica del Sur Oeste

Market Cap: S/867.8m

Distributes electricity in Peru.

Practic

Market Cap: RON 760.3m

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Anhui Huaren Health Pharmaceutical

Market Cap: CN¥6.0b

Anhui Huaren Health Pharmaceutical Co., Ltd.

Woojin

Market Cap: ₩398.8b

Engages in the developing and manufacturing of industrial measuring instruments in South Korea.

ITCENGLOBAL

Market Cap: ₩623.0b

Provides consulting, ICT, and outsourcing services and solutions in South Korea.

Saha-Union

Market Cap: ฿8.0b

Engages in plastic, rubber and metal, chemicals, trading, energy, hotel, investment, and other businesses.

Yashima Denki

Market Cap: JP¥58.9b

Engages in the plant, public/facilities, and transportation businesses in Japan and internationally.

Timex Group India

Market Cap: ₹35.6b

Engages in designing, manufacturing, and trading of watches in India and internationally.

New Asia Construction & Development

Market Cap: NT$3.4b

Provides public construction services for governments in Taiwan.

Yibin City Commercial Bank

Market Cap: HK$12.0b

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

TSTE

Market Cap: ฿4.2b

Primarily engages in the production and distribution of wheat flour in Thailand.

Dear LifeLtd

Market Cap: JP¥54.5b

Engages in the real estate business in Japan.