Global Undervalued based on future growth

Henan Zhongfu IndustrialLtd

Market Cap: CN¥31.4b

Processes, manufactures, and sells electrolytic aluminum and aluminum products in China.

Huaibei Mining HoldingsLtd

Market Cap: CN¥31.3b

Primarily engages in coal mining, washing, processing, sales, and production of coal chemical products in China.

LG Uplus

Market Cap: ₩6.5t

Provides various telecommunication services primarily in South Korea.

Vallourec

Market Cap: €3.7b

Through its subsidiaries, provides tubular solutions for the oil and gas, industry, and new energies markets in Europe, North America, South America, Asia, the Middle East, and internationally.

AL Sydbank

Market Cap: DKK 27.6b

Provides various banking products and services to corporate, private, retail, and institutional clients in Denmark and internationally.

Saudi Investment Bank

Market Cap: ر.س16.0b

Provides commercial and retail banking services to individuals, small to medium-sized businesses, and corporate and institutional customers in the Kingdom of Saudi Arabia.

CSSC Offshore & Marine Engineering (Group)

Market Cap: HK$32.8b

Manufactures and sells marine and defense equipment in the People’s Republic of China, other regions in Asia, Europe, Oceania, North America, South America, and Africa.

Corporación América Airports

Market Cap: US$4.2b

Through its subsidiaries, acquires, develops, and operates airport concessions.

CNO Financial Group

Market Cap: US$4.2b

Through its subsidiaries, develops, markets, and administers health insurance, annuity, individual life insurance, insurance products, and financial services for middle-income pre-retiree and retired Americans in the United States.

Teleperformance

Market Cap: €3.5b

Operates as a digital business services company in France and internationally.

Compal Electronics

Market Cap: NT$129.4b

Manufactures and sells notebook personal computers, monitors, LCD TVs, mobile phones, and other components and peripherals in Taiwan, the United States, China, the United Kingdom, Germany, Netherlands, and internationally.

Victory Capital Holdings

Market Cap: US$4.1b

Operates as an asset management company in the United States and internationally.

Inner Mongolia ERDOS ResourcesLtd

Market Cap: CN¥28.6b

Engages in clothing, power metallurgy, and chemical businesses in China.

Klabin

Market Cap: R$22.4b

Produces and exports packaging paper and sustainable paper packaging solutions in Brazil and internationally.

Avnet

Market Cap: US$4.0b

Distributes electronic component technology in the Americas, Europe, the Middle East, Africa, and Asia/Pacific.

Wuchan Zhongda GroupLtd

Market Cap: CN¥28.4b

Provides bulk commodity supply chain integration services in China and internationally.

Gentera. de

Market Cap: Mex$72.8b

Provides various financial products and services in Mexico and Peru.

Eregli Demir ve Çelik Fabrikalari T.A.S

Market Cap: ₺171.9b

Produces and sells iron and steel rolled products, alloyed and non-alloyed iron, steel and pig iron castings, cast and pressed steel, coke, and by-products in Turkey and internationally.

Banco BBVA Argentina

Market Cap: AR$5.8t

Provides various banking products and services to individuals and companies in Argentina.

Shan Xi Hua Yang Group New EnergyLtd

Market Cap: CN¥28.1b

A mining company, engages in the production, washing, processing, and sale of coal in China.

Trimegah Bangun Persada

Market Cap: Rp66.1t

PT Trimegah Bangun Persada TBK engages in the nickel ore mining and processing business in China, Switzerland, Sweden, and Indonesia.

Sasol

Market Cap: R66.4b

Operates as a chemical and energy company.

Wienerberger

Market Cap: €3.3b

Produces and sells clay blocks, facing bricks, roof tiles, and pavers in Europe West, Europe East, and North America.

Coca-Cola Içecek Anonim Sirketi

Market Cap: ₺165.8b

Engages in the production, sale, and distribution of sparkling and still beverages in Turkey, Pakistan, Bangladesh, Central Asia, and the Middle East.

Xiamen C&D

Market Cap: CN¥27.1b

Engages in the supply chain and real estate development businesses in China and internationally.

Independent Bank

Market Cap: US$3.8b

Operates as the bank holding company for Rockland Trust Company that provides commercial banking products and services to individuals and small-to-medium sized businesses in the United States.

Hanwha

Market Cap: ₩5.6t

Engages in the manufacture and sale of explosives and industrial machinery, trading, and general construction businesses.

Lygend Resources & Technology

Market Cap: HK$29.4b

Engages in the production, smelting, and trading of nickel products in Mainland China and internationally.

MiTAC Holdings

Market Cap: NT$119.0b

Designs, develops, manufactures, and distributes computers and ancillary equipment, and communication related products in Taiwan, Europe, the United States, and internationally.

Inner Mongolia Berun Chemical

Market Cap: CN¥26.6b

Engages in the production and sale of soda ash, baking soda, fertilizers and other chemical products in China.

Bank AlJazira

Market Cap: ر.س14.1b

Provides a range of Shari’ah compliant banking products and services for individuals, corporates, small to medium sized businesses, and institutions in the Kingdom of Saudi Arabia.

AIMA Technology Group

Market Cap: CN¥26.3b

Engages in the research and development, production, and sale of electric bicycles, mopeds, and motorcycles in China and internationally.

CJ

Market Cap: ₩5.5t

Engages in the food and food services, bio, logistics and retail, and entertainment and media businesses worldwide.

Dekon Food and Agriculture Group

Market Cap: HK$29.1b

Engages in the livestock and poultry breeding and farming businesses.

Powertech Technology

Market Cap: NT$117.5b

Researches, designs, develops, assembles, manufactures, packages, tests, and sells various integrated circuit (IC) products in Taiwan, Japan, Singapore, the United States, Europe, China, Hong Kong, Macao, and internationally.

Brighthouse Financial

Market Cap: US$3.7b

Provides annuity and life insurance products in the United States.