Moroccan Pharmaceuticals & Biotech Defensive Blue Chips

Banco Santander-Chile

Market Cap: CL$10.9t

Provides commercial and retail banking products and services in Chile.

VeriSilicon Microelectronics (Shanghai)

Market Cap: CN¥80.4b

Provides platform-based custom silicon and semiconductor IP licensing services in China and internationally.

Tsingtao Brewery

Market Cap: HK$87.6b

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

Orkla

Market Cap: NOK 112.0b

Operates as an industrial investment company within brands and consumer-oriented businesses in Norway, Sweden, Denmark, Finland, Iceland, the Baltics, rest of Europe, and internationally.

Huadong Medicine

Market Cap: CN¥79.5b

Engages in the wholesale and retail of pharmaceutical products in China and internationally.

Enel Américas

Market Cap: CL$10.8t

Generates, transmits, and distributes electricity in Brazil, Colombia, Central America, Argentina, and Peru.

Skyworks Solutions

Market Cap: US$11.1b

Designs, develops, manufactures, and markets semiconductor products in the United States, China, South Korea, Taiwan, Europe, the Middle East, Africa, and the rest of Asia-Pacific.

Union Bank of India

Market Cap: ₹978.3b

Provides banking products and services in India.

Raiffeisen Bank International

Market Cap: €9.5b

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

Airtel Africa

Market Cap: UK£8.1b

Provides telecommunications and mobile money services in Nigeria, East Africa, and Francophone Africa.

ING Bank Slaski

Market Cap: zł39.9b

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

Telecom Italia

Market Cap: €9.3b

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

Albertsons Companies

Market Cap: US$10.9b

Through its subsidiaries, operates in the food and drug retail industry in the United States.

Chandra Daya Investasi

Market Cap: Rp178.5t

Operates as an infrastructure investment holding company.

Assurant

Market Cap: US$10.9b

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

Oklo

Market Cap: US$10.9b

Develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States.

Industrial Bank of Korea

Market Cap: ₩15.1t

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

Bank of Chengdu

Market Cap: CN¥77.1b

Provides various commercial banking products and services in China.

Canara Bank

Market Cap: ₹953.7b

Provides various banking products and services in India and internationally.

BKW

Market Cap: CHF 8.7b

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.

Krung Thai Bank

Market Cap: ฿348.0b

Engages in commercial banking business in Thailand and internationally.

Banque Saudi Fransi

Market Cap: ر.س40.4b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Marico

Market Cap: ₹949.2b

Manufactures and sells branded consumer products in India, Bangladesh, Vietnam, and internationally.

Acciona

Market Cap: €9.1b

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

BE Semiconductor Industries

Market Cap: €9.1b

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

Bajaj Housing Finance

Market Cap: ₹941.8b

Provides housing finance services in India.

Mowi

Market Cap: NOK 106.6b

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

Kinsale Capital Group

Market Cap: US$10.7b

Engages in the provision of property and casualty insurance products in the United States.

Manila Electric

Market Cap: ₱608.6b

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

United Spirits

Market Cap: ₹938.1b

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

Penumbra

Market Cap: US$10.6b

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

Vietnam Technological and Commercial Bank

Market Cap: ₫279.8t

Provides personal and corporate banking products and services in Vietnam and internationally.

Sanlam

Market Cap: R187.1b

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

KT&G

Market Cap: ₩14.8t

Engages in the production, distribution, and sale of tobacco products in South Korea, Europe, and internationally.

IDBI Bank

Market Cap: ₹936.0b

Provides banking and financial solutions to retail and corporate customers in India.

Chubu Electric Power Company

Market Cap: JP¥1.6t

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