Malawian Utilities Defensive Blue Chips

Smoore International Holdings

Market Cap: HK$128.1b

An investment holding company, engages in the provision of vaping technology solutions.

Qatar Islamic Bank (Q.P.S.C.)

Market Cap: ر.ق59.6b

Provides corporate, retail, and investment banking products and services in Qatar and internationally.

Ambuja Cements

Market Cap: ₹1.4t

Manufactures, markets, and sells cement and related products to individual homebuilders, developers, infrastructure projects, masons and contractors, professionals, and architects and engineers in India.

Wens Foodstuff Group

Market Cap: CN¥115.8b

Operates as a livestock and poultry farming company in China.

Grupo Financiero Inbursa. de

Market Cap: Mex$301.7b

Provides various financial products and services to individuals and businesses in Mexico.

Emirates Islamic Bank PJSC

Market Cap: د.إ58.9b

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

Bank of Hangzhou

Market Cap: CN¥115.0b

Provides various banking products and services to individuals, corporate, and small and micro businesses in China.

Saudi Electricity

Market Cap: ر.س60.1b

Generates, transmits, and distributes electricity in the Kingdom of Saudi Arabia.

Fortum Oyj

Market Cap: €13.6b

Engages in the generation and sale of electricity and heat in Finland, Sweden, the Netherlands, Ireland, Denmark, Belgium, the United Kingdom, Switzerland, Spain, France, Germany, Norway, and internationally.

Smith & Nephew

Market Cap: UK£11.7b

Develops, manufactures, markets, and sells medical devices and services in the United Kingdom, the United States, and internationally.

Mizrahi Tefahot Bank

Market Cap: ₪53.7b

Provides a range of international, commercial, domestic, and personal banking services to individuals and businesses in Israel and internationally.

Kansai Electric Power Company

Market Cap: JP¥2.3t

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

Performance Food Group

Market Cap: US$15.8b

Through its subsidiaries, engages in the marketing and distribution of food and food-related products in North America.

Vodacom Group

Market Cap: R277.3b

Provides communications products and services.

Ryan Specialty Holdings

Market Cap: US$15.7b

Operates as a service provider of specialty products and solutions for insurance brokers, agents, and carriers in the United States, Canada, the United Kingdom, rest of Europe, India, and Singapore.

Hormel Foods

Market Cap: US$15.6b

Develops, processes, and distributes various meat, nuts, and other food products to foodservice, convenience store, and commercial customers in the United States and internationally.

Metro

Market Cap: CA$21.5b

Through its subsidiaries, operates as a retailer, franchisor, distributor, and manufacturer in the food and pharmaceutical sectors in Canada.

Tryg

Market Cap: DKK 99.0b

Provides insurance products and services for private and corporate customers, and small and medium-sized businesses in Denmark, Sweden, the United Kingdom, and Norway.

Santander Bank Polska

Market Cap: zł56.1b

Provides various banking products and services for individuals, small or medium-sized enterprises, corporate clients, and public sector institutions.

JBS

Market Cap: US$15.4b

Operates as a protein and food company worldwide.

Powszechny Zaklad Ubezpieczen

Market Cap: zł56.0b

Provides life and non-life insurance products and services in Poland, the Baltic States, and Ukraine.

Rede D'Or São Luiz

Market Cap: R$82.8b

Operates a network of hospitals in Brazil.

Jerónimo Martins SGPS

Market Cap: €13.1b

Operates in the food distribution and specialized retail sectors in Portugal, Poland, Colombia, and internationally.

Unipol Assicurazioni

Market Cap: €13.0b

Provides insurance products and services primarily in Italy.

Kerry Group

Market Cap: €13.0b

Provides taste and nutrition solutions.

Tenet Healthcare

Market Cap: US$15.2b

Operates as a diversified healthcare services company in the United States.

Bank Polska Kasa Opieki

Market Cap: zł55.3b

A commercial bank, provides banking products and services to retail and corporate clients in Poland.

Hologic

Market Cap: US$15.1b

Engages in the development, manufacture, and supply of diagnostics products, medical imaging systems, and surgical products for women's health through early detection and treatment worldwide.

Eurobank Ergasias Services and Holdings

Market Cap: €12.8b

Provides retail, corporate and private banking, asset management, treasury, capital market, and other services in Greece, Bulgaria, Cyprus, and Luxembourg.

Uni-President Enterprises

Market Cap: NT$447.7b

Manufactures and sells beverage, food, animal feed, and wheat flour in Taiwan and internationally.

JDE Peet's

Market Cap: €12.7b

Operates as a coffee and tea company worldwide.

ASR Nederland

Market Cap: €12.7b

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

Suncorp Group

Market Cap: AU$22.8b

Provides insurance products to retail, corporate, and commercial customers in Australia and New Zealand.

Grupo Nutresa S. A

Market Cap: Col$59.4t

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

Bank of Ireland Group

Market Cap: €12.6b

Provides banking and other financial services in the Republic of Ireland, the United Kingdom, and internationally.

Companhia de Saneamento Básico do Estado de São Paulo - SABESP

Market Cap: R$79.6b

Provides basic and environmental sanitation services in the São Paulo State, Brazil.