Indonesian Materials Defensive Blue Chips

Mowi

Market Cap: NOK 105.2b

A seafood company, produces and sells Atlantic salmon products worldwide.

SD Guthrie Berhad

Market Cap: RM 45.2b

Operates as an integrated plantations company in Malaysia and internationally.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

United Nova TechnologyLtd

Market Cap: CN¥75.0b

Manufactures and markets power discrete and modules in China and internationally.

Japan Post Insurance

Market Cap: JP¥1.8t

Engages in the provision of life insurance products and services in Japan.

Tata Consumer Products

Market Cap: ₹1.1t

Manufactures, distributes, and trades in food products in India, the United States, the United Kingdom, and internationally.

Sanlam

Market Cap: R179.5b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Guangdong Haid Group

Market Cap: CN¥74.4b

Research, develops, designs, produces, sells, and services animal feed products in China and internationally.

China Zheshang Bank

Market Cap: HK$86.3b

Provides corporate and retail banking services in Mainland China.

Ooredoo Q.P.S.C

Market Cap: ر.ق40.1b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Chongqing Rural Commercial Bank

Market Cap: HK$85.8b

Provides banking and related financial services in the People’s Republic of China.

Bangkok Bank

Market Cap: ฿361.7b

Provides various commercial banking products and services in Thailand and internationally.

Glaukos

Market Cap: US$10.9b

An ophthalmic pharmaceutical and medical technology company, develops therapies for the treatment of glaucoma, corneal disorders, and retinal diseases in the United States and internationally.

Marks and Spencer Group

Market Cap: UK£8.1b

Operates various retail stores.

Rambus

Market Cap: US$10.9b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Wintrust Financial

Market Cap: US$10.9b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Busy Ming Group

Market Cap: HK$85.1b

Through its subsidiaries, operates as a food and beverage retailer in China.

FormFactor

Market Cap: US$10.8b

Designs, manufactures, and sells probe cards, analytical probes, probe stations, thermal systems, cryogenic systems, and related services in the United States, South Korea, Taiwan, China, Japan, Singapore, Europe, Malaysia, and internationally.

Beijing E-Town Semiconductor Technology

Market Cap: CN¥72.7b

Beijing E-Town Semiconductor Technology Co., Ltd.

Globalstar

Market Cap: US$10.8b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.

Taiwan Mobile

Market Cap: NT$344.0b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

SouthState Bank

Market Cap: US$10.7b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Unicaja Banco

Market Cap: €9.2b

Engages in the retail banking business in Spain.

Dairibord Holdings

Market Cap: US$1.4b

Manufactures, processes, markets, and distributes milk, food, and beverage products in Zimbabwe.

Budweiser Brewing Company APAC

Market Cap: HK$83.7b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Darling Ingredients

Market Cap: US$10.7b

Develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally.

Discovery

Market Cap: R173.5b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Ryan Specialty Holdings

Market Cap: US$10.7b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, Singapore, and internationally.

Vienna Insurance Group

Market Cap: €9.2b

Engages in providing insurance products and services in Austria and internationally.

Molina Healthcare

Market Cap: US$10.6b

Provides managed healthcare services to low-income families and individuals under the Medicaid and Medicare programs and through the state insurance marketplaces in the United States.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫277.7t

Provides various banking products and services in Vietnam and internationally.

Ambuja Cements

Market Cap: ₹1.0t

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

BDO Unibank

Market Cap: ₱651.4b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Quebecor

Market Cap: CA$14.6b

Engages in the telecommunications, media, and sports and entertainment businesses in Canada.

Orkla

Market Cap: NOK 98.8b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Ensign Group

Market Cap: US$10.5b

Provides skilled nursing, senior living, and rehabilitative services.