Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Tohoku Steel

Market Cap: JP¥16.7b

Manufactures, processes, and distributes various types of special steel products in Japan.

Vivo Energy Mauritius

Market Cap: MU₨13.1b

Vivo Energy Mauritius Limited markets, supplies, and distributes fuels and lubricants to retail and commercial customers in Mauritius.

Palasino Holdings

Market Cap: HK$1.5b

Through its subsidiaries, engages in the gaming and hotel businesses in the Czech Republic, Germany, and Austria.

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

New Mauritius Hotels

Market Cap: MU₨7.3b

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

ManpowerGroup Greater China

Market Cap: HK$1.1b

An investment holding company, provides workforce solutions and services in the People’s Republic of China, Hong Kong, Macau, and Taiwan.

Ceylinco Holdings

Market Cap: LK₨75.6b

Ceylinco Holdings PLC underwrites various classes of general and life insurance products primarily in Sri Lanka.

Yibin City Commercial Bank

Market Cap: HK$12.1b

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

SALUS Ljubljana d. d

Market Cap: €526.0m

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

Bank MNC Internasional

Market Cap: Rp2.4t

Provides various banking products and services in Indonesia.

Al Wathba National Insurance Company PJSC

Market Cap: د.إ629.3m

Engages in general insurance and reinsurance business in the United Arab Emirates and internationally.

Bahrain National Holding Company B.S.C

Market Cap: ب.د60.1m

Bahrain National Holding Company B.S.C., together with its subsidiaries, asset management services in the Kingdom of Bahrain and other GCC countries.

Hua Na Hydropower

Market Cap: ₫5.3t

Engages in the investment, production, and trading of electricity in Vietnam.

Zito d.o.o

Market Cap: €504.7m

Engages in the food and agricultural businesses in Croatia, Hungary, Italy, Serbia, Slovakia, Kosovo, and internationally.

Gür-Sel Turizm Tasimacilik ve Servis Ticaret

Market Cap: ₺33.0b

Gür-Sel Turizm Tasimacilik ve Servis Ticaret A.S.

GROUPE SFPI

Market Cap: €177.0m

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

Vincorion

Market Cap: €850.0m

Develops and manufactures power and mechatronic solutions for defense platforms and aviation systems in Germany and internationally.

AIICO Insurance

Market Cap: ₦153.7b

Provides risk underwriting and related financial services in Nigeria.

Wema Bank

Market Cap: ₦1.1t

Provides banking and other financial services to corporate and individual customers in Nigeria.

Alantra Partners

Market Cap: €405.3m

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

Decora

Market Cap: zł799.5m

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

Tureks Turizm Tasimacilik Anonim Sirketi

Market Cap: ₺9.8b

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

Marvipol Development

Market Cap: zł451.9m

Develops residential projects in Poland.

Envirotainer

Market Cap: €377.4m

Develops, produces, and markets vacuum insulation panels and phase change materials in Germany, rest of European Union, and internationally.

High Templar Tech

Market Cap: US$397.5m

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$73.4m

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

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret

Market Cap: ₺14.1b

Mobiltel Iletisim Hizmetleri Sanayi ve Ticaret A.S.

Steppe Gold

Market Cap: CA$371.7m

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

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.

Lion Capital

Market Cap: RON 2.4b

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.

Analyst I.M.S. Investment Management Services

Market Cap: ₪1.7b

A publicly owned investment manager.

Moury Construct

Market Cap: €299.7m

Moury Construct SA, together with its subsidiaries, constructs and renovates residential and non-residential buildings in Belgium.

NameSilo Technologies

Market Cap: US$122.0m

Through its subsidiaries, provides domain name registration services in the United States, East and South Asia, South East Asia, Australasia, and internationally.

Smart Shooter

Market Cap: ₪970.2m

Designs and develops fire control systems in Israel, North America, Europe, Australia and New Zealand.

Alumil Aluminium Industry

Market Cap: €201.9m

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