Indonesian Media Defensive Blue Chips

Sanlam

Market Cap: R195.3b

Provides various financial solutions to individual, business, and institutional clients in South Africa, rest of Africa, Asia, and internationally.

Apollo Hospitals Enterprise

Market Cap: ₹1.0t

Provides healthcare services in India.

Baloise Holding

Market Cap: CHF 9.2b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

Mora Telematika Indonesia

Market Cap: Rp190.4t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

SinoPac Financial Holdings

Market Cap: NT$357.4b

Through its subsidiaries, provides banking, securities, investment, leasing, and venture capital services worldwide.

Piotech

Market Cap: CN¥80.6b

Engages in the research and development, production, sales, and technical services of high-end semiconductor special equipment in China.

China Resources Beer (Holdings)

Market Cap: HK$88.6b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.

Industrial Bank of Korea

Market Cap: ₩16.6t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.3b

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

Chubu Electric Power Company

Market Cap: JP¥1.8t

Engages in the generation, transmission, distribution, and retail of electricity in Japan and internationally.

James Hardie Industries

Market Cap: AU$17.1b

Engages in the manufacture and sale of fiber cement, fiber gypsum, and cement bonded boards in the United States, Australia, Europe, and New Zealand.

Manila Electric

Market Cap: ₱665.0b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Severn Trent

Market Cap: UK£8.5b

Provides water and wastewater services in the United Kingdom.

Penumbra

Market Cap: US$11.3b

Designs, develops, manufactures, and markets medical devices in the United States and internationally.

BDO Unibank

Market Cap: ₱661.4b

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

Alibaba Health Information Technology

Market Cap: HK$87.3b

An investment holding company, engages in the pharmaceutical direct sales, pharmaceutical e-commerce platform, and healthcare and digital services businesses in Mainland China and Hong Kong.

Italgas

Market Cap: €9.6b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

United Spirits

Market Cap: ₹1.0t

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Maplebear

Market Cap: US$11.2b

Maplebear Inc., doing business as Instacart, engages in the provision of online grocery shopping services to households in North America.

Carrefour

Market Cap: €9.6b

Operates as a food retailer in France, Spain, Italy, Belgium, Poland, Romania, Brazil, Argentina, the Middle East, Africa, and Asia.

Align Technology

Market Cap: US$11.1b

Provides Invisalign clear aligners, Vivera retainers, and iTero intraoral scanners and services in the United States, Switzerland, and internationally.

American Financial Group

Market Cap: US$11.1b

An insurance holding company, provides specialty property and casualty insurance products in the United States.

Assurant

Market Cap: US$11.1b

Provides protection services to connected devices, homes, and automobiles in North America, Latin America, Europe, and the Asia Pacific.

Tele2

Market Cap: SEK 103.3b

Provides fixed and mobile connectivity and entertainment services in Sweden, Lithuania, Latvia, and Estonia.

First Horizon

Market Cap: US$11.0b

Operates as the bank holding company for First Horizon Bank that provides various financial services.

BKW

Market Cap: CHF 8.8b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Tsingtao Brewery

Market Cap: CN¥77.3b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

T&D Holdings

Market Cap: JP¥1.7t

Through its subsidiaries, provides insurance products and services in Japan.

Old Republic International

Market Cap: US$10.9b

Through its subsidiaries, provides insurance underwriting and related services primarily in the United States and Canada.

ICICI Lombard General Insurance

Market Cap: ₹982.0b

Provides various general insurance products and services in India.

Acciona

Market Cap: €9.3b

Engages in the energy, infrastructure, and other businesses in Spain and internationally.

Hippo Valley Estates

Market Cap: US$1.4b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

Celsius Holdings

Market Cap: US$10.8b

Develops, processes, manufactures, markets, sells, and distributes functional energy drinks in the United States, North America, Europe, the Asia Pacific, and internationally.

iA Financial

Market Cap: CA$15.1b

Provides insurance and wealth management services for individual and group basis in Canada and the United States.

CPFL Energia

Market Cap: R$57.3b

Through its subsidiaries, operates as an energy company in Brazil.

TIM

Market Cap: R$57.3b

A telecommunications company, provides mobile, fixed, long-distance, data transmission, and broadband services in Brazil.