Malawian Utilities Defensive Blue Chips

Henan Shuanghui Investment & DevelopmentLtd

Market Cap: CN¥86.6b

Henan Shuanghui Investment & Development Co.,Ltd.

Banco Comercial Português

Market Cap: €10.4b

Engages in the provision of various banking and financial products and services in Portugal and internationally.

Israel Discount Bank

Market Cap: ₪40.2b

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

HKT Trust and HKT

Market Cap: HK$93.8b

An investment holding company, engages in the provision of technology, and satellite-and network-based telecommunications and related services in Hong Kong, Mainland China, and internationally.

CNA Financial

Market Cap: US$11.9b

An insurance holding company, primarily provides commercial property and casualty insurance products in the United States and internationally.

BKW

Market Cap: CHF 9.5b

An international energy and infrastructure company, plans, builds, and operates infrastructure to produce and supply energy to businesses, households, and the public sector in Switzerland, Germany, Italy, France, and internationally.

Itissalat Al-Maghrib (IAM)

Market Cap: د.م107.3b

Provides various telecommunication solutions in Morocco and internationally.

ING Bank Slaski

Market Cap: zł43.7b

Together with our subsidiaries, provides various banking products and services for retail clients and businesses in Poland.

BB Seguridade Participações

Market Cap: R$65.4b

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

Kasikornbank

Market Cap: ฿380.3b

Provides commercial banking products and services in Thailand and internationally.

Tokyo GasLtd

Market Cap: JP¥1.7t

Engages in the production, supply, and sale of city gas, and LNG in Japan.

Union Bank of India

Market Cap: ₹1.0t

Provides banking products and services in India.

Grupo Cibest

Market Cap: Col$47.9t

Provides banking products and services in Colombia and internationally.

RenaissanceRe Holdings

Market Cap: US$11.5b

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

IDBI Bank

Market Cap: ₹1.0t

Provides banking and financial solutions to retail and corporate customers in India.

Canara Bank

Market Cap: ₹998.6b

Provides various banking products and services in India and internationally.

First Horizon

Market Cap: US$11.5b

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

GD Power DevelopmentLtd

Market Cap: CN¥82.2b

Operates as a power generation company in China.

Adani Energy Solutions

Market Cap: ₹993.4b

Generates, transmits, and distributes power in India.

Doximity

Market Cap: US$11.4b

Operates as a digital platform for medical professionals in the United States.

Aegon

Market Cap: €9.9b

Provides insurance, pensions, retirement, and asset management services in the Americas, the Netherlands, the United Kingdom, and internationally.

True Corporation

Market Cap: ฿369.7b

Provides telecommunications and value-added services in Thailand.

Pilgrim's Pride

Market Cap: US$11.3b

Produces, processes, markets, and distributes fresh, frozen, and value-added chicken and pork products to retailers, distributors, and foodservice operators in the United States, Europe, and Mexico.

Ooredoo Q.P.S.C

Market Cap: ر.ق41.0b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Arab National Bank

Market Cap: ر.س41.9b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Bank of the Philippine Islands

Market Cap: ₱639.3b

Provides various financial products and services to retail and corporate clients in the Philippines.

Giga Device Semiconductor

Market Cap: CN¥79.9b

Engages in the research, development, technical support, and sale of memory, microcontrollers, and sensors.

Bajaj Housing Finance

Market Cap: ₹965.9b

Provides housing finance services in India.

Oklo

Market Cap: US$11.1b

Develops advanced fission power plants to provide clean, reliable, and affordable energy at scale to the customers in the United States.

Banque Saudi Fransi

Market Cap: ر.س41.7b

Provides banking and financial services for individuals and businesses in the Kingdom of Saudi Arabia and internationally.

Tsingtao Brewery

Market Cap: HK$87.0b

Engages in the production, distribution, wholesale, and retail sale of beer products in Mainland China, Hong Kong, Macau, and internationally.

Globe Life

Market Cap: US$11.1b

Through its subsidiaries, provides various life and supplemental health insurance products, and annuities to lower middle- and middle-income families in the United States.

Industrial Bank of Korea

Market Cap: ₩15.3t

Operates as a small and medium-sized enterprise (SME) financing bank in Korea and internationally.

Albertsons Companies

Market Cap: US$11.0b

Through its subsidiaries, operates in the food and drug retail industry in the United States.

Baloise Holding

Market Cap: CHF 8.9b

Primarily engages in the insurance and banking businesses in Switzerland, Germany, Belgium, and Luxembourg.

China Resources Beer (Holdings)

Market Cap: HK$86.5b

An investment holding company, manufactures, distributes, and sells alcoholic beverages in Mainland China.