Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Aesler Grup Internasional

Market Cap: Rp3.4t

Provides architectural and construction management services in Indonesia.

ANSA Merchant Bank

Market Cap: TT$2.7b

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

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.7b

Develops, manufactures, and sells medicines in Bulgaria.

Chilanga Cement

Market Cap: K7.7b

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

Sparta

Market Cap: €103.6m

A publicly owned investment manager.

PINAGO UTAMA

Market Cap: Rp2.5t

Engages in the oil palm and rubber plantation business in Indonesia.

Standard Bank

Market Cap: MK 1.3t

Provides banking and other related services in Malawi.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 74.8b

Processes heavy bitumen crude in Africa.

Lampsa Hellenic Hotels

Market Cap: €846.0m

Operates and manages hotels in Greece, Cyprus, and Serbia.

Jadranski naftovod d.d

Market Cap: €866.6m

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

Telekom Networks Malawi

Market Cap: MK 367.7b

Provides telecommunication services to enterprises and individual customers in Malawi.

Ferchem Misr for fertilizers and chemicalsE

Market Cap: ج.م33.7b

Produces and sells fertilizers.

Nigerian Aviation Handling

Market Cap: ₦243.3b

Provides aircraft and cargo handling, passenger handling, passenger profiling, and crew transportation services in Nigeria.

Inversiones Doalca SOCIMI

Market Cap: €154.2m

Inversiones Doalca Socimi, S.A., a real estate investment company, leases and rents real estate properties in Spain.

Zambia Sugar

Market Cap: K20.6b

Engages in growing of sugar cane in Zambia, the Democratic Republic of Congo, Kenya, and South Africa.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 296.3b

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

Oakworth Capital

Market Cap: US$161.4m

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

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

Market Cap: ج.م20.1b

Provides various banking products and services in Egypt.

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

Market Cap: ج.م18.0b

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.

Bank of Africa Mali

Market Cap: XOF 115.3b

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

GlaxoSmithKlineE

Market Cap: ج.م6.0b

Engages in production of pharmaceutical chemicals.

Namibia Breweries

Market Cap: R6.0b

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

La Positiva Seguros y Reaseguros

Market Cap: S/602.9m

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

First National Bank of Botswana

Market Cap: P13.9b

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

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Industrias del Cobre Sociedad Anónima

Market Cap: S/766.7m

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

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

Hermes Transportes Blindados

Market Cap: S/719.8m

Provides money and securities transfer, custody and processing, and document transfer services in Peru.

Corporación Financiera Colombiana

Market Cap: Col$6.3t

Operates as a private financial institution in Columbia and Central America.

Grendene

Market Cap: R$4.7b

Engages in the development, production, distribution, and sale of footwear for women, men, and children in Brazil and internationally.

Fideicomiso Irrevocable Numero Cib/2919 (Cfe Fibra E)

Market Cap: Mex$25.5b

n/a

Transcorp Power

Market Cap: ₦2.6t

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

Sopharma AD

Market Cap: лв1.4b

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

SALUS Ljubljana d. d

Market Cap: €404.4m

Engages in the distribution, promotion, sales services, and value-added services for medicinal products or medical devices in Slovenia and internationally.

DINE. de

Market Cap: Mex$14.3b

Develops real estate projects in Mexico.