Global Undiscovered Gems With Strong Fundamentals

Arab Insurance Group (B.S.C.)

Market Cap: US$190.2m

Provides life and non-life reinsurance products and related services in the Afro Asia region.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Shenzhen Coship Electronics

Market Cap: CN¥7.6b

Engages in the manufacture and sale of smart home products and services worldwide.

Sun

Market Cap: MU₨6.5b

Operates in the tourism sector.

Keir International

Market Cap: ر.س474.0m

Provides a range of service solutions.

La Forestière Equatoriale

Market Cap: €120.1m

Does not have any significant operations.

Chilanga Cement

Market Cap: K6.1b

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

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 268.3b

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

Bank of Africa Mali

Market Cap: XOF 82.4b

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

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

Invests in, operates, and manages duty-free shops.

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.

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.

Purple Group

Market Cap: R2.0b

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.

Sugar Terminals

Market Cap: AU$352.8m

Provides storage and handling solutions for bulk sugar and other commodities in Australia.

Sparta

Market Cap: €86.8m

A publicly owned investment manager.

Tchaikapharma High Quality Medicines AD

Market Cap: лв1.6b

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

Zambia Sugar

Market Cap: K13.2b

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

Transcorp Power

Market Cap: ₦2.5t

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

Central Cooperative Bank AD

Market Cap: лв213.6m

A commercial bank, provides various financial products and services.

Practic

Market Cap: RON 570.2m

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

Standard Bank

Market Cap: MK 2.2t

Provides banking and other related services in Malawi.

Grendene

Market Cap: R$5.0b

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

Maistra d.d

Market Cap: €518.8m

Engages in the hotel business in Croatia.

Lampsa Hellenic Hotels

Market Cap: €828.9m

Operates hotels primarily in Greece, Cyprus, and Serbia.

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.

Potasios de Chile

Market Cap: CL$536.2b

Engages in investment in shares and other financial instruments in Chile.

Inverfal PerúA

Market Cap: S/1.6b

Engages in investing in fixed or variable income securities.

ISE Chemicals

Market Cap: JP¥129.0b

Engages in the iodine and natural gas, and metallic compound businesses in Japan.

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.

Castellana Properties Socimi

Market Cap: €919.0m

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

ANSA Merchant Bank

Market Cap: TT$3.4b

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

MAPFRE Middlesea

Market Cap: €128.8m

Provides non-life and life insurance products and services to individuals, small and medium enterprises, professionals, and businesses in Malta.

NSIA Banque Société Anonyme

Market Cap: XOF 217.7b

Provides various banking products and services.

Eurofins-Cerep

Market Cap: €103.9m

Provides various drug discovery services to pharmaceutical, biopharmaceutical, and biotechnology companies France and internationally.

Zona Franca de Iquique

Market Cap: CL$237.7b

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

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 71.2b

Processes heavy bitumen crude in Africa.