Kenyan Telecom Defensive Blue Chips

Veolia Environnement

Market Cap: €20.8b

Designs and provides water, waste, and energy management solutions.

CGN Power

Market Cap: HK$188.3b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

China United Network Communications

Market Cap: CN¥172.0b

Provides telecommunication services in the People’s Republic of China.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥171.9b

Inner Mongolia Yili Industrial Group Co., Ltd.

Capitec Bank Holdings

Market Cap: R415.7b

Through its subsidiaries, provides various banking products and services in South Africa.

New China Life Insurance

Market Cap: CN¥171.1b

Provides life insurance products and services to individuals and institutions in China.

Bank Mandiri (Persero)

Market Cap: Rp400.4t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia, England, and the Cayman Islands.

Yihai Kerry Arawana Holdings

Market Cap: CN¥171.1b

Engages in the agriculture and food processing businesses in China.

BT Group

Market Cap: UK£17.8b

Provides communications products and services in the United Kingdom, Europe, the Middle East, Africa, the Americas, and the Asia Pacific.

Huaneng Lancang River Hydropower

Market Cap: CN¥170.1b

Engages in the development, construction, operation, and management of hydropower projects.

STERIS

Market Cap: US$23.7b

Provides infection prevention products and services worldwide.

Teradyne

Market Cap: US$23.5b

Designs, develops, manufactures, and sells automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

Standard Bank Group

Market Cap: R403.7b

Provides financial products and services in South Africa and internationally.

Citizens Financial Group

Market Cap: US$23.3b

Operates as the bank holding company that provides retail and commercial banking products and services to individuals, small businesses, middle-market companies, large corporations, and institutions in the United States.

OTP Bank Nyrt

Market Cap: Ft7.8t

Provides commercial banking services to individuals, municipalities, corporations, and enterprises.

Regions Financial

Market Cap: US$23.1b

A financial holding company, provides various banking and related products and services to individual and corporate customers.

George Weston

Market Cap: CA$32.1b

Provides food and drug retailing, and financial services in Canada.

Labcorp Holdings

Market Cap: US$22.9b

Provides laboratory services.

Banco do Brasil

Market Cap: R$122.2b

Provides banking products and services for individuals, companies, and public sectors in Brazil and internationally.

Banco BPM

Market Cap: €19.4b

Provides banking and financial products and services to individual, business, and corporate customers in Italy.

First Citizens BancShares

Market Cap: US$22.6b

Operates as the holding company for First-Citizens Bank & Trust Company that provides retail and commercial banking services to individuals, businesses, and professionals in the United States and internationally.

Telenor

Market Cap: NOK 225.1b

Operates as a telecommunication company worldwide.

Renesas Electronics

Market Cap: JP¥3.4t

Researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

Grupo Nutresa S. A

Market Cap: Col$86.4t

Operates in the food industry in Colombia, Latin America, and internationally.

Eastroc Beverage(Group)

Market Cap: CN¥158.0b

Engages in the research and development, production, and sales of beverages in China.

Hua Hong Semiconductor

Market Cap: HK$172.4b

An investment holding company, engages in the manufacture and sale of semiconductor products in China, North America, Asia, Europe, and Japan.

BPER Banca

Market Cap: €18.9b

Provides banking products and services for individuals, and businesses and professionals in Italy and internationally.

Sigma Healthcare

Market Cap: AU$33.4b

Operates as a pharmaceutical wholesaler, distributor, and pharmacy franchisor in Australia and internationally.

Riyad Bank

Market Cap: ر.س82.5b

Provides banking and investment services in the Kingdom of Saudi Arabia.

Resona Holdings

Market Cap: JP¥3.3t

Through its subsidiaries, engages in the provision retail and commercial banking products and services in Japan and internationally.

Insulet

Market Cap: US$21.9b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Abu Dhabi Islamic Bank PJSC

Market Cap: د.إ79.4b

Provides banking, financing, and investing services in the United Arab Emirates, rest of the Middle East, and internationally.

Dollar General

Market Cap: US$21.6b

A discount retailer, provides various merchandise products in the southern, southwestern, midwestern, and eastern United States.

Loews

Market Cap: US$21.2b

Through its subsidiaries, provides commercial property and casualty insurance in the United States and internationally.

QBE Insurance Group

Market Cap: AU$32.0b

Engages in underwriting general insurance and reinsurance risks in the Australia Pacific, North America, and internationally.

Kioxia Holdings

Market Cap: JP¥3.2t

Engages in the development, production and sale of flash memory and solid state drives (SSDs) in Japan and internationally.