Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Namibia Breweries

Market Cap: R6.6b

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

TSTE

Market Cap: ฿4.1b

Primarily engages in the production and distribution of food, ingredients, and confectionery products in Thailand.

HG Metal Manufacturing

Market Cap: S$170.3m

An investment holding company, primarily trades in steel products in Indonesia, Malaysia, Myanmar, and Singapore.

Hoshi Iryo-Sanki

Market Cap: JP¥16.7b

Manufactures and sells pharmaceutical medical oxygen and nitrous oxides in Japan.

Cashmere Valley Bank

Market Cap: US$266.2m

A state chartered bank, provides banking products and services to small and middle-market businesses, and retail customers.

First Northern Community Bancorp

Market Cap: US$248.8m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

New Mauritius Hotels

Market Cap: MU₨7.4b

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

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

First National Bank of Botswana

Market Cap: P14.4b

Provides various banking and related products and services to individuals, and large and small businesses in Botswana.

Sopharma AD

Market Cap: €909.2m

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

Marvipol Development

Market Cap: zł435.3m

Develops residential projects in Poland.

Steppe Gold

Market Cap: CA$354.0m

Engages in operating, developing, exploring, and acquiring precious metal projects in Mongolia and Peru.

Union Bankshares

Market Cap: US$113.0m

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

Affinity Bancshares

Market Cap: US$136.6m

Operates as the holding company for Affinity Bank, National Association that provides various banking products and services in the United States.

Winchester Bancorp

Market Cap: US$120.5m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

Pasifik Holding

Market Cap: ₺31.8b

Through its subsidiaries, engages in providing diversified range of services in various sectors.

Chilanga Cement

Market Cap: K13.9b

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

Anbio Biotechnology

Market Cap: US$1.2b

Provides in vitro diagnostics (IVD) products in the European Union, the Asia Pacific, North America, South America, Africa, and internationally.

Export Development Bank of Egypt (S.A.E.)

Market Cap: ج.م23.5b

Provides various banking products and services in Egypt.

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

Market Cap: ج.م62.8b

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

GROUPE SFPI

Market Cap: €170.1m

Designs, manufactures, and markets equipment for the safety industry in Europe and internationally.

Odas Elektrik Üretim Sanayi Ticaret

Market Cap: ₺9.6b

Produces and sells electricity by natural gas combined cycles in Turkey and internationally.

Oakworth Capital

Market Cap: US$187.0m

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

Telekom Networks Malawi

Market Cap: MK 347.4b

Provides telecommunication services to enterprises and individual customers in Malawi.

Tri-County Financial Group

Market Cap: US$127.5m

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.

Canal Shipping Agencies

Market Cap: ج.م9.1b

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$62.4m

Provides life and funeral assurance, asset management, actuarial consultancy and micro-financing services in Zimbabwe and Malawi.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 633.7b

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

Lion Capital

Market Cap: RON 2.3b

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.

Security Federal

Market Cap: US$111.2m

Operates as the bank holding company for Security Federal Bank that provides various banking products and services.

Pasifik Eurasia Lojistik Dis Ticaret

Market Cap: ₺83.9b

Pasifik Eurasia Lojistik Dis Ticaret A.S.

Segmen Kardesler Gida Üretim ve Ambalaj Sanayi Anonim Sirketi

Market Cap: ₺8.9b

Produces and sells food products in Turkey.

Bank of the James Financial Group

Market Cap: US$105.4m

Operates as the bank holding company for Bank of the James that provides general retail and commercial banking services to individuals, businesses, associations and organizations, and governmental authorities in Virginia, the United States.

Tureks Turizm Tasimacilik Anonim Sirketi

Market Cap: ₺9.0b

Engages in group transportation, and fleet and individual vehicle rental activities in Turkey.

High Templar Tech

Market Cap: US$375.8m

Operates as a consumer-oriented financial technology service company in the People’s Republic of China.