Global Undiscovered Gems With Strong Fundamentals

Vantage

Market Cap: US$140.6m

Provides shipbroking services to the oil tanker industry in Singapore and Dubai.

Kuwait Projects Company Holding K.S.C.P

Market Cap: د.ك423.4m

Through its subsidiaries, operates in the financial services, food, petrochemicals and oil services, media, real estate, and education sectors in Kuwait, rest of the GCC, rest of the Middle East, rest of Asia, rest of North Africa, Europe, and North America.

Al-Ahleia Insurance CompanyK.P

Market Cap: د.ك176.3m

Engages in insurance and reinsurance operations in Kuwait.

National Investments Company K.S.C.P

Market Cap: د.ك214.4m

Engages in the investment, treasury, real estate, asset management, advisory, and brokerage businesses in Kuwait, GCC countries, and internationally.

Invest Bank

Market Cap: د.أ221.3m

Provides various banking and related financial services in Jordan.

Padma Oil

Market Cap: ৳17.6b

Engages in the procurement, storage, and marketing of petroleum products, lubricants, greases, bitumen, and LPG in Bangladesh.

Sure Global Tech

Market Cap: ر.س616.0m

Provides technological and consultative solutions for public and private sectors in the Kingdom of Saudi Arabia.

Saudi Chemical Holding

Market Cap: ر.س6.4b

Saudi Chemical Holding Company manufacture, wholesale, and retail trade of medicines, medical materials and syrups, pharmaceutical preparations, medical and surgical tools and equipment in the Kingdom of Saudi Arabia and internationally.

Arab Banking Corporation (B.S.C.)

Market Cap: US$1.1b

Provides wholesale banking services worldwide.

Nofoth Food Products

Market Cap: ر.س1.2b

Produces and sells bakery products in Saudi Arabia.

A'ayan Real Estate Company K.S.C.P

Market Cap: د.ك43.6m

Engages in the real estate development and investment activities in Kuwait and rest of GCC countries.

MOBI Industry

Market Cap: ر.س648.0m

Manufactures and sells fertilizers and nitrogen compounds in the Kingdom of Saudi Arabia.

Kuwait Company for Process Plant Construction and Contracting K.S.C.P

Market Cap: د.ك43.7m

The Kuwait Company for Process Plant Construction and Contracting K.S.C.P.

Al-Deera Holding Company K.P.S.C

Market Cap: د.ك38.5m

A private equity firm specializing in direct and fund investments.

National Corporation for Tourism and Hotels

Market Cap: د.إ4.7b

Invests in, owns, and manages hotels and leisure complexes in the United Arab Emirates.

Yulie Sekuritas Indonesia

Market Cap: Rp4.3t

Operates as a securities company in Indonesia.

Jordanian Duty Free Shops

Market Cap: د.أ150.8m

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

Amanat Holdings PJSC

Market Cap: د.إ2.6b

Engages in the investment in companies and enterprises in the fields of education and healthcare in the United Arab Emirates and internationally.

Linde Bangladesh

Market Cap: ৳12.9b

Manufactures and supplies industrial and medical gases, anesthesia, and ancillary equipment in Bangladesh.

Alf Meem Yaa for Medical Supplies and Equipment

Market Cap: ر.س798.0m

Engages in the wholesale and retail trade of medical supplies for the aesthetic market in the Kingdom of Saudi Arabia.

Baazeem Trading

Market Cap: ر.س554.9m

Operates as a FMCG distribution company.

Saudi Azm for Communication and Information Technology

Market Cap: ر.س1.7b

Provides business and digital technology solutions in the Kingdom of Saudi Arabia.

Waja

Market Cap: ر.س497.7m

Engages in the construction, media and communication, and information technology businesses.

Caisse Regionale de Credit Agricole Mutuel Toulouse 31

Market Cap: €400.7m

Operates as a cooperative bank in France.

Castellana Properties Socimi

Market Cap: €912.6m

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

Alantra Partners

Market Cap: €304.3m

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

Alumil Aluminium Industry

Market Cap: €169.2m

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

Oakworth Capital

Market Cap: US$155.9m

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

Evergent Investments

Market Cap: RON 1.2b

A publicly owned investment manager.

ANSA Merchant Bank

Market Cap: TT$3.4b

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

Flügger group

Market Cap: DKK 992.1m

Designs, manufactures, and markets decorative paints, wood protection products, spackling pastes, and wallpaper and tools.

Trace Group Hold

Market Cap: лв175.4m

Through its subsidiaries, provides construction services for road infrastructure projects in Bulgaria and internationally.

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.

Itafos

Market Cap: CA$454.1m

Operates as a phosphate and specialty fertilizer company.

Cyprus Cement

Market Cap: €133.0m

Engages in the manufacturing and sale of cement and related business in Cyprus.