Malawian Consumer Services Defensive Blue Chips

Foshan Haitian Flavouring and Food

Market Cap: CN¥211.4b

Foshan Haitian Flavouring and Food Company Ltd.

Naturgy Energy Group

Market Cap: €27.3b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

Veolia Environnement

Market Cap: €27.3b

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

Credicorp

Market Cap: US$31.1b

Provides various banking services and products in Peru, Bermuda, Colombia, Bolivia, Panama, Chile, the United States, the Cayman Islands, and Mexico.

Bank of Ningbo

Market Cap: CN¥210.3b

Provides various personal and business banking products and services in the People's Republic of China.

Abu Dhabi Commercial Bank PJSC

Market Cap: د.إ113.7b

Provides banking products and services in the United Arab Emirates and internationally.

Bank Hapoalim B.M

Market Cap: ₪94.7b

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

Ørsted

Market Cap: DKK 202.2b

Owns, develops, constructs, and operates offshore and onshore wind farms, solar farms, and energy storage and combined heat and power (CHP) plants.

Veeva Systems

Market Cap: US$30.7b

Provides cloud-based software for the life sciences industry in North America, Europe, the Asia Pacific, the Middle East, Africa, and Latin America.

Kraft Heinz

Market Cap: US$30.6b

Manufactures and markets food and beverage products in North America and internationally.

Grupo Financiero Banorte. de

Market Cap: Mex$532.0b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Citizens Financial Group

Market Cap: US$30.4b

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.

British American Tobacco Zimbabwe (Holdings)

Market Cap: US$3.9b

Together with subsidiaries, manufactures, distributes, and sells cigarettes in Zimbabwe.

Ajinomoto

Market Cap: JP¥4.9t

Engages in the seasonings and foods, frozen foods, and healthcare and other businesses in Japan and internationally.

Svenska Handelsbanken

Market Cap: SEK 285.7b

Provides various banking products and services for private and corporate customers primarily in Sweden, the United Kingdom, Norway, the Netherlands, and internationally.

Seven & i Holdings

Market Cap: JP¥4.8t

Operates convenience stores in Japan, North America, and internationally.

Atmos Energy

Market Cap: US$29.2b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Gulf Development

Market Cap: ฿986.0b

Generates and sells electricity and steam to public and private clients in Thailand and internationally.

Sampo Oyj

Market Cap: €25.6b

Provides non-life insurance products and services in Finland, Sweden, Norway, Denmark, Estonia, Lithuania, Latvia, Spain, Gibraltar, Germany, the Netherlands, France, and the United Kingdom.

Qnity Electronics

Market Cap: US$29.1b

Provides materials and solutions to the semiconductor and electronics industries in the United States, rest of Americas, Europe, the Middle East, Africa, Asia Pacific, China, South Korea, Taiwan, and internationally.

Nestlé India

Market Cap: ₹2.8t

Engages in the manufacture and sale of food products in India and internationally.

AXIA Energia

Market Cap: R$146.3b

Through its subsidiaries, engages in the generation, transmission, distribution, and commercialization of electricity in Brazil.

Sumitomo Mitsui Trust Group

Market Cap: JP¥4.7t

Operates as a trust bank in Japan and internationally.

DexCom

Market Cap: US$28.8b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems for the management of diabetes and metabolic health in the United States and internationally.

Tower Semiconductor

Market Cap: US$28.3b

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

ResMed

Market Cap: US$28.2b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

GE HealthCare Technologies

Market Cap: US$28.2b

Engages in the development, manufacture, and marketing of products, services, and complementary digital solutions used in the diagnosis, treatment, and monitoring of patients in the United States, Canada, and internationally.

W. R. Berkley

Market Cap: US$28.0b

An insurance holding company, operates as a commercial line writer worldwide.

Fresenius SE KGaA

Market Cap: €24.5b

A health care company, provides products and services for chronically ill patients in North America, Europe, the Asia-Pacific, Latin America, and Africa.

Huaneng Lancang River Hydropower

Market Cap: CN¥189.5b

Engages in the development, construction, operation, and management of hydropower and new energy power generation projects.

Cincinnati Financial

Market Cap: US$27.9b

Provides property casualty insurance products in the United States.

Power Grid Corporation of India

Market Cap: ₹2.7t

An electric power transmission utility, engages in the power transmission business in India and internationally.

George Weston

Market Cap: CA$38.9b

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

China National Nuclear Power

Market Cap: CN¥187.0b

Engages in the investment, construction, operation, and management of nuclear power projects in the People's Republic of China.

Aviva

Market Cap: UK£20.6b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, India, and China.

Amrize

Market Cap: CHF 22.3b

Engages in the provision of various building solutions for infrastructure, commercial, and residential construction markets in North America and Canada.