Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Acsion

Market Cap: R4.9b

Engages in property holding and development activities in South Africa and internationally.

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 2.3b

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.

Tchaikapharma High Quality Medicines AD

Market Cap: €872.7m

Develops, manufactures, and sells medicines in Bulgaria.

Sopharma AD

Market Cap: €901.3m

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

ANSA Merchant Bank

Market Cap: TT$2.1b

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

Namibia Breweries

Market Cap: R6.3b

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

Chilanga Cement

Market Cap: K16.0b

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

GB Holdings

Market Cap: US$55.2m

Produces rubber and chemical products in Zimbabwe.

Union Bankshares

Market Cap: US$103.8m

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

Morris State Bancshares

Market Cap: US$264.9m

Operates as the bank holding company for Morris Bank that provides various financial services to individuals and small businesses in Georgia.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 645.3b

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

A3 Mercados

Market Cap: AR$723.3b

Operates as a market for negotiable securities in Argentina and internationally.

Epsilon Energy

Market Cap: US$180.6m

A North American onshore independent natural gas and oil company, engages in the acquisition, exploration, development, gathering, and production of natural oil and gas reserves.

Freetrailer Group

Market Cap: €514.7m

A technology company, operates a sharing-economy platform for the free rental of trailers and cargo bikes in Denmark, Sweden, Germany, and the Netherlands.

TSTE

Market Cap: ฿4.0b

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

Surya Toto Indonesia

Market Cap: Rp2.8t

Manufactures and sells sanitary, fittings, kitchen systems, and other related products in Indonesia and internationally.

Ouro Fino Saúde Animal Participações

Market Cap: R$1.5b

Engages in the development, production, and sale of veterinary drugs, vaccines, and other products for production and companion animals primarily in Brazil.

Grendene

Market Cap: R$4.2b

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

GTS Internasional

Market Cap: Rp2.9t

PT GTS Internasional Tbk, together with its subsidiaries, transports liquefied natural gas worldwide.

Cita Mineral Investindo

Market Cap: Rp16.4t

Engages in bauxite mining activities in Indonesia.

Oxford Bank

Market Cap: US$103.7m

Operates as the holding company for Oxford Bank that provides various banking products and services to various customers in Michigan.

Nusantara Pelabuhan Handal

Market Cap: Rp2.4t

Manages and operates container terminals in Indonesia and internationally.

Cahaya Aero Services

Market Cap: Rp4.0t

Provides cargo and ground handling services in Indonesia.

Dwi Guna Laksana

Market Cap: Rp2.9t

Engages in the coal mining and trading business in Indonesia.

Citra Tubindo

Market Cap: Rp4.6t

Provides pipes and accessories, and related services to the oil and gas industries in Indonesia.

Segar Kumala Indonesia

Market Cap: Rp2.0t

Engages in the trading of fruits and frozen chicken in Indonesia.

Surya Citra Media

Market Cap: Rp17.1t

Provides multimedia services in Indonesia.

Cisadane Sawit Raya

Market Cap: Rp1.9t

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

Yulie Sekuritas Indonesia

Market Cap: Rp5.3t

Operates as a securities company in Indonesia.

Bank MNC Internasional

Market Cap: Rp2.3t

Provides various banking products and services in Indonesia.

Seef Properties B.S.C

Market Cap: ب.د53.8m

Engages in the real estate development business in the Kingdom of Bahrain.

Bahrain National Holding Company B.S.C

Market Cap: ب.د61.8m

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

Lippo Cikarang

Market Cap: Rp3.2t

Develops real estate and industrial estate projects in Indonesia.

Telekom Networks Malawi

Market Cap: MK 357.3b

Provides telecommunication services to enterprises and individual customers in Malawi.