Moroccan Utilities Defensive Blue Chips

Kansai Electric Power Company

Market Cap: JP¥2.5t

Engages in electricity, heat supply, telecommunication, and gas supply in Japan.

ASR Nederland

Market Cap: €13.6b

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

Pro Medicus

Market Cap: AU$22.3b

A healthcare informatics company, engages in the development and supply of healthcare imaging software, and radiology information (RIS) system software and services to hospitals, imaging centers, and health care groups in Australia, North America, and Europe.

Bankinter

Market Cap: €13.6b

Provides various banking products and services to individuals, corporates, and small- and medium-sized enterprises in Spain, Luxembourg, Portugal, and Ireland.

Mapfre

Market Cap: €13.5b

Engages in insurance, reinsurance, and financial activities in Spain.

Emirates Integrated Telecommunications Company PJSC

Market Cap: د.إ56.6b

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

ageas

Market Cap: €13.5b

Engages in insurance business.

JD Health International

Market Cap: HK$120.7b

An investment holding company, engages in the operation of an online healthcare platform in the People’s Republic of China.

Attijariwafa bank

Market Cap: د.م144.1b

Provides banking products and services for retail, professionals, corporates, and institutional clients in Africa, Europe, and the Middle East.

Banco Santander-Chile

Market Cap: CL$14.1t

Provides commercial and retail banking products and services in Chile.

Power Assets Holdings

Market Cap: HK$120.5b

An investment holding company, engages in the generation, transmission, and distribution of electricity in Hong Kong, the United Kingdom, Australia, Canada, mainland China, Netherlands, New Zealand, Thailand, the United States, and internationally.

KGI Financial Holding

Market Cap: NT$492.3b

Operates as a financial company in Taiwan and internationally.

SCB X

Market Cap: ฿510.1b

Engages in the banking, consumer and digital finance, and platform and technology businesses in Thailand and internationally.

Onto Innovation

Market Cap: US$15.3b

Engages in the design, development, manufacture, and support of process control tools that perform macro-defect inspection and metrology in the United States, Taiwan, South Korea, Japan, China, Southeast Asia, Asia, and Europe.

Kerry Group

Market Cap: €13.4b

Provides taste and nutrition solutions.

Rede D'Or São Luiz

Market Cap: R$78.6b

Engages in the provision of hospital services in Brazil.

Jentech Precision Industrial

Market Cap: NT$487.2b

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

Dubai Islamic Bank P.J.S.C

Market Cap: د.إ55.5b

Engages in the corporate, retail, and investment banking activities in the United Arab Emirates and internationally.

DaVita

Market Cap: US$15.1b

Provides kidney dialysis services for patients suffering from chronic kidney failure in the United States.

Sonova Holding

Market Cap: CHF 12.1b

Manufactures and sells hearing care solutions for children and adults in Switzerland, the United States, rest of the Americas, Europe, the Middle East, Africa, and the Asia Pacific.

Pinnacle Financial Partners

Market Cap: US$15.0b

Operates as the bank holding company for Pinnacle Bank that provides various banking products and services to individuals, businesses, and professional entities in the United States.

Nova

Market Cap: US$14.9b

Engages in the design, development, production, and sale of process control systems used in the manufacture of semiconductors in Taiwan, the United States, China, Korea, and internationally.

T&D Holdings

Market Cap: JP¥2.4t

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

James Hardie Industries

Market Cap: AU$21.5b

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

Admiral Group

Market Cap: UK£11.2b

A financial services company, provides insurance and personal lending products in the United Kingdom, France, Italy, and Spain.

Chubu Electric Power Company

Market Cap: JP¥2.4t

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

Woori Financial Group

Market Cap: ₩22.8t

Operates as a bank which provides various financial services in Korea, China, the United States, the United Kingdom, Japan, and internationally.

First Financial Holding

Market Cap: NT$475.2b

Provides various financial products and services in Asia, North America, Oceania, and Europe.

Tongfu MicroelectronicsLtd

Market Cap: CN¥100.4b

Provides integrated circuit (IC) encapsulation test services in China and internationally.

Unum Group

Market Cap: US$14.8b

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

Everest Group

Market Cap: US$14.7b

Together with subsidiaries, provides reinsurance and insurance products in the United States, Europe, and internationally.

Huaneng Power International

Market Cap: HK$114.8b

Generates and sells electric power to the regional or provincial grid companies in the People’s Republic of China, the Islamic Republic of Pakistan, and internationally.

BB Seguridade Participações

Market Cap: R$75.0b

Through its subsidiaries operates in the insurance, pension plans, and bonds, businesses in Brazil.

Reinsurance Group of America

Market Cap: US$14.5b

Provides life and health, and asset-intensive reinsurance in the United States, Latin America, Canada, Europe, the Middle East, Africa, Asia, and Australia.

Cooper Companies

Market Cap: US$14.5b

Develops, manufactures, and markets contact lens wearers.

Asahi Group Holdings

Market Cap: JP¥2.3t

Manufactures and sells beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.