Moroccan Software Defensive Blue Chips

Tele2

Market Cap: SEK 121.3b

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

Jentech Precision Industrial

Market Cap: NT$424.5b

Manufactures, processes, and trades in precision tooling, and electronic parts and components in Taiwan and China.

Piotech

Market Cap: CN¥92.8b

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

Helvetia Baloise Holding

Market Cap: CHF 10.4b

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

Everest Group

Market Cap: US$13.4b

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

Penumbra

Market Cap: US$13.4b

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

Uni-President Enterprises

Market Cap: NT$421.6b

Produces and sells food products in Taiwan and internationally.

Mashreqbank PSC

Market Cap: د.إ48.9b

Provides various banking and financial services to individuals and corporates.

Vodafone Idea

Market Cap: ₹1.2t

Provides mobile telecommunication services in India.

Fresenius Medical Care

Market Cap: €11.2b

Provides dialysis and related services for individuals with renal diseases in Germany, the United States, and internationally.

Absa Group

Market Cap: R212.7b

Provides retail and business banking, corporate and investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

First Financial Holding

Market Cap: NT$419.2b

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

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥92.0b

Henan Shuanghui Investment & Development Co.,Ltd.

bioMérieux

Market Cap: €11.2b

Develops, manufactures, and markets in vitro diagnostic solutions for infectious diseases in France, Europe, Africa, the Middle East, North and South America, the Asia Pacific, and internationally.

James Hardie Industries

Market Cap: AU$18.8b

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

Olympus

Market Cap: JP¥2.1t

Manufactures and sells medical equipment in Japan, America, the Middle East, Asia, and Oceania.

RenaissanceRe Holdings

Market Cap: US$13.2b

Provides reinsurance and insurance products in the United States and internationally.

Origin Energy

Market Cap: AU$18.7b

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.

BJ's Wholesale Club Holdings

Market Cap: US$13.1b

Operates membership warehouse clubs on the eastern half of the United States.

Sanlam

Market Cap: R210.3b

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

Hippo Valley Estates

Market Cap: US$1.7b

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$13.0b

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

Phoenix Financial

Market Cap: ₪40.5b

Provides multi-line insurance products in Israel.

CP ALL

Market Cap: ฿409.9b

Operates and franchises convenience stores under the 7-Eleven name to other retailers primarily in Thailand, Malaysia, and internatinally.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ47.6b

Provides mobile, fixed services, broadband connectivity, and IPTV solutions to homes and businesses in the United Arab Emirates.

Indian Bank

Market Cap: ₹1.2t

Provides various banking products and services.

Hong Leong Bank Berhad

Market Cap: RM 51.1b

Operates as a financial services company in Malaysia and internationally.

Piraeus Bank

Market Cap: €10.9b

Provides various banking products and services in Greece.

Indus Towers

Market Cap: ₹1.2t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Insurance Australia Group

Market Cap: AU$18.2b

Insurance Australia Group Limited underwrites general insurance products and provides investment management services in Australia and New Zealand.

BDO Unibank

Market Cap: ₱749.0b

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

Guangdong Haid Group

Market Cap: CN¥88.5b

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

Kirin Holdings Company

Market Cap: JP¥2.0t

Engages in food and beverages, alcoholic beverages, pharmaceuticals, and health science businesses.

First Horizon

Market Cap: US$12.7b

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

HANMI Semiconductor

Market Cap: ₩18.6t

Manufactures and sells semiconductor equipment in South Korea and internationally.

China Jushi

Market Cap: CN¥88.0b

Engages in the manufacture and sale of fiberglass and related products in China and internationally.