Malawian Utilities Defensive Blue Chips

Kansai Electric Power Company

Market Cap: JP¥2.7t

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

Airtel Africa

Market Cap: UK£12.4b

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

Bankinter

Market Cap: €14.5b

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

FinecoBank Banca Fineco

Market Cap: €14.5b

Provides banking, credit, trading and investment services in Italy.

Woori Financial Group

Market Cap: ₩23.9t

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

Hippo Valley Estates

Market Cap: US$2.1b

Together with its subsidiary, Chiredzi Township (Private) Limited, engages in the growing and milling of sugar cane in Zimbabwe and internationally.

ASR Nederland

Market Cap: €14.4b

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

Hua Xia Bank

Market Cap: CN¥111.9b

Provides commercial banking services in China and Hong Kong.

Powszechny Zaklad Ubezpieczen

Market Cap: zł61.4b

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

Winbond Electronics

Market Cap: NT$533.3b

Engages in the research, development, production and sales of integrated circuits, various semiconductor components and other system products.

Mora Telematika Indonesia

Market Cap: Rp297.4t

Operates as a telecommunications infrastructure and network provider in Indonesia and Singapore.

Banco Santander-Chile

Market Cap: CL$15.1t

Provides commercial and retail banking products and services in Chile.

Entegris

Market Cap: US$16.3b

Provides advanced materials and process solutions for the semiconductor and other high-technology industries in North America, Taiwan, South Korea, Japan, China, Europe, and Southeast Asia.

Bank of Beijing

Market Cap: CN¥110.2b

Provides various banking services to individuals and corporates in China.

OmniVision Integrated Circuits Group

Market Cap: CN¥109.8b

Engages in the design, development, and sale of integrated circuits and computer software and hardware in China and internationally.

Sonova Holding

Market Cap: CHF 13.0b

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.

Power Assets Holdings

Market Cap: HK$125.9b

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.

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.

Lattice Semiconductor

Market Cap: US$16.0b

Develops and sells semiconductor, silicon-based and silicon-enabling, evaluation boards, and development hardware products in Asia, Europe, and the Americas.

JD Health International

Market Cap: HK$125.3b

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

Varun Beverages

Market Cap: ₹1.5t

Manufactures, bottles, sells, and distributes beverages under the PepsiCo brands in India, Sri Lanka, Nepal, Zambia, Morocco, Zimbabwe, the Democratic Republic of Congo, Mozambique, South Africa, Lesotho, Eswatini, Namibia, and Botswana.

Elia Group

Market Cap: €13.7b

Develops and operates as a transmission system operator in Belgium and Germany.

ageas

Market Cap: €13.7b

Engages in insurance business.

Great Eastern Holdings

Market Cap: S$20.4b

An investment holding company, provides insurance products in Singapore, Malaysia, and rest of Asia.

Pinnacle Financial Partners

Market Cap: US$15.8b

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.

Asahi Group Holdings

Market Cap: JP¥2.6t

Engages in the manufacture and sale of beer, alcohol and non-alcohol beverages, and food products in Japan, Europe, Oceania, and Southeast Asia.

First Financial Holding

Market Cap: NT$510.5b

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

BB Seguridade Participações

Market Cap: R$79.4b

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

Mapfre

Market Cap: €13.5b

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

Admiral Group

Market Cap: UK£11.5b

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

Reinsurance Group of America

Market Cap: US$15.5b

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

BAWAG Group

Market Cap: €13.5b

Operates as a holding company for BAWAG P.S.K.

Kerry Group

Market Cap: €13.4b

Provides taste and nutrition solutions.

DaVita

Market Cap: US$15.5b

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

mBank

Market Cap: zł57.7b

Provides various banking and financial services in Poland, the Czech Republic, Slovakia, and internationally.

ING Bank Slaski

Market Cap: zł57.6b

Provides various banking products and services for retail clients and businesses in Poland.