Global Undiscovered Gems With Strong Fundamentals

Invest Bank

Market Cap: د.أ225.0m

Provides various banking and related financial services in Jordan.

Hua Na Hydropower

Market Cap: ₫5.1t

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

Gulf Insurance Group - Jordan

Market Cap: د.أ92.3m

Engages in the insurance business in Jordan, the Middle East, North Africa, Europe, Asia, America, and the Near East.

HOMAG Group

Market Cap: €392.2m

Manufactures and sells machines and solutions for wood processing and timber construction industries worldwide.

Central Forest Group

Market Cap: JP¥23.2b

Engages in the wholesale of food, alcoholic beverages, and other related consumer products in Japan.

Bank of Africa Mali

Market Cap: XOF 128.2b

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

Fidelity Life Assurance of Zimbabwe

Market Cap: US$62.4m

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

Procimmo Group

Market Cap: CHF 427.9m

A holding company, engages in the investment, management, and sale of real estate properties in Switzerland.

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.

Societe de Limonaderies et de Boissons Rafraichissantes d'Afrique

Market Cap: XOF 609.1b

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

High Templar Tech

Market Cap: US$375.8m

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

New Mauritius Hotels

Market Cap: MU₨7.6b

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

Sun

Market Cap: MU₨7.3b

Operates in the tourism sector.

Lion Capital

Market Cap: RON 2.2b

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.

GB Holdings

Market Cap: US$64.1m

Produces rubber and chemical products in Zimbabwe.

Winchester Bancorp

Market Cap: US$120.4m

Operates as a bank holding company for Winchester Savings Bank that provides banking products and services in the United States.

Affinity Bancshares

Market Cap: US$136.8m

Operates as the holding company for Affinity Bank, National Association that provides various banking products and services in the United States.

Potasios de Chile

Market Cap: CL$1.0t

Invests in shares and other financial instruments in Chile.

Empresas Lipigas

Market Cap: CL$929.9b

Provides energy solutions through the marketing, distribution, and sale of liquefied petroleum gas (LPG), natural gas (NG), liquefied natural gas (LNG), and electricity for residential, commercial, and industrial use in Chile, Colombia, Peru, and Ecuador.

Inversiones Doalca SOCIMI

Market Cap: €156.7m

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

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

Market Cap: ج.م23.8b

Provides various banking products and services in Egypt.

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

Market Cap: ج.م60.2b

Engages in the establishment and management of technology zones, scientific incubators, and training centers for the preparation of researchers, transfer technology, and related services in Egypt.

Canal Shipping Agencies

Market Cap: ج.م9.1b

Provides various shipping services to the international commercial fleet in Egypt.

Société Multinationale de Bitumes Société Anonyme

Market Cap: XOF 90.8b

Processes heavy bitumen crude in Africa.

Chobe Holdings

Market Cap: P1.7b

Through its subsidiaries, engages in owning and operating ecotourism lodges and camps on leased lands in northern Botswana and the Caprivi Strip in Namibia.

Telekom Networks Malawi

Market Cap: MK 344.9b

Provides telecommunication services to enterprises and individual customers in Malawi.

ASA Gold and Precious Metals

Market Cap: US$1.2b

A publicly owned investment manager.

Union Bankshares

Market Cap: US$117.8m

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

Southern Michigan Bancorp

Market Cap: US$126.8m

Operates as the bank holding company for Southern Michigan Bank & Trust that provides a range of commercial banking services to individuals, businesses, institutions, and government agencies primarily in the southwest and south-central Michigan communities.

First Northern Community Bancorp

Market Cap: US$260.1m

Operates as the bank holding company for First Northern Bank of Dixon that provides commercial banking products and services to individuals, and small and medium sized businesses.

A3 Mercados

Market Cap: AR$737.2b

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

Chilanga Cement

Market Cap: K14.0b

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

Seneca Foods

Market Cap: US$910.5m

Provides packaged fruits and vegetables in the United States and internationally.

Grendene

Market Cap: R$3.9b

Engages in the development, production, distribution, sale, and market of plastic footwear in Brazil, North America, Asia, Oceania, Europe, Central and South America, the Middle East, and Africa.

First Bancorp

Market Cap: US$321.4m

Operates as the bank holding company for First National Bank that provides a range of banking products and services to individual and corporate customers.

Grupo Gigante S. A. B. de C. V

Market Cap: Mex$31.9b

Operates convenience stores and restaurants in Mexico, Central America, and Chile.