Italian Software Defensive Blue Chips

ASR Nederland

Market Cap: €12.3b

Provides insurance, pensions, and mortgages products and services for consumers, entrepreneurs, and employers in the Netherlands.

Raiffeisen Bank International

Market Cap: €12.3b

Offers banking services to corporate, private, and institutional customers.

Telecom Italia

Market Cap: €12.3b

Engages in the fixed and mobile telecommunications services in Italy and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺614.0b

Provides various banking products and services in Turkey.

Mashreqbank PSC

Market Cap: د.إ52.2b

Provides various banking and financial services to individuals and corporates.

Ryan Specialty Holdings

Market Cap: US$14.0b

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, and Singapore.

Everest Group

Market Cap: US$14.0b

Through its subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Hua Nan Financial Holdings

Market Cap: NT$438.4b

Provides financial services in Taiwan and internationally.

BE Semiconductor Industries

Market Cap: €11.9b

Develops, manufactures, markets, sells, and services semiconductor assembly equipment for the semiconductor and electronics industries in the Netherlands, Switzerland, Austria, Singapore, Malaysia, and internationally.

Vodafone Idea

Market Cap: ₹1.2t

Provides mobile telecommunication services in India.

Universal Health Services

Market Cap: US$13.9b

Through its subsidiaries, owns and operates acute care hospitals, and outpatient and behavioral health care facilities.

Kerry Group

Market Cap: €11.8b

Provides taste and nutrition solutions.

Israel Discount Bank

Market Cap: ₪43.8b

Provides various banking and financial services in Israel, Europe, and North America.

Woori Financial Group

Market Cap: ₩19.9t

Operates as a commercial bank which provides various financial services to individual, business, and institutional customers in Korea.

Tower Semiconductor

Market Cap: US$13.7b

An independent semiconductor foundry, provides technology, development, and process platforms for integrated circuits in the United States, Japan, rest of Asia, and Europe.

Performance Food Group

Market Cap: US$13.7b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

Union Bank of India

Market Cap: ₹1.2t

Provides banking products and services in India.

Zegona Communications

Market Cap: UK£10.2b

Provides integrated telecommunications services in Spain.

Tokyo GasLtd

Market Cap: JP¥2.1t

Engages in the production, supply, and sale of city gas and LNG in Japan.

Samsung Fire & Marine Insurance

Market Cap: ₩19.8t

Provides non-life insurance products and services in South Korea, China, Indonesia, Vietnam, Singapore, the United States, and the United Kingdom.

Uni-President Enterprises

Market Cap: NT$429.6b

Produces and sells food products in Taiwan and internationally.

Helvetia Baloise Holding

Market Cap: CHF 10.8b

Engages in life and non-life insurance, and reinsurance business in Switzerland, Germany, Austria, Spain, Italy, France, and internationally.

First Financial Holding

Market Cap: NT$426.4b

Through its subsidiaries, provides various financial products and services in Taiwan, Asia, America, Europe, Oceania, and internationally.

Jiangsu Yanghe Distillery

Market Cap: CN¥93.9b

Offers liquors and wines.

Osaka Gas

Market Cap: JP¥2.1t

Provides gas, electricity, and other energy products and services in Japan and internationally.

ACM Research (Shanghai)

Market Cap: CN¥93.4b

Engages in the research, development, production, and sale of semiconductor equipment in China.

Adani Energy Solutions

Market Cap: ₹1.2t

Generates, transmits, and distributes power in India.

Etihad Etisalat

Market Cap: ر.س49.8b

Through its subsidiaries, establishes and operates mobile wireless telecommunication and fiber optic networks in the Kingdom of Saudi Arabia.

Reinsurance Group of America

Market Cap: US$13.3b

Provides reinsurance and financial solutions.

Budweiser Brewing Company APAC

Market Cap: HK$103.1b

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

Tata Consumer Products

Market Cap: ₹1.2t

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

Unum Group

Market Cap: US$13.2b

Provides financial protection benefit solutions in the United States, the United Kingdom, and Poland.

ageas

Market Cap: €11.3b

Engages in insurance business.

Fisher & Paykel Healthcare

Market Cap: NZ$22.8b

Designs, manufactures, markets, and sells medical device products and systems in North America, Europe, the Asia Pacific, and internationally.

ING Bank Slaski

Market Cap: zł47.1b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

Origin Energy

Market Cap: AU$19.4b

An integrated energy company, engages in the exploration and production of natural gas, electricity generation, wholesale and retail sale of electricity and gas, and sale of liquefied natural gas in Australia and internationally.