Malawian Utilities Defensive Blue Chips

Qorvo

Market Cap: US$10.3b

Engages in development and commercialization of technologies and products for wireless, wired, and power markets in the United States, China, rest of Asia, Taiwan, and Europe.

Popular

Market Cap: US$10.3b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Darling Ingredients

Market Cap: US$10.3b

Develops, produces, and sells sustainable natural ingredients from edible and inedible bio-nutrients in North America, Europe, China, South America, and internationally.

Ryan Specialty Holdings

Market Cap: US$10.3b

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, Singapore, and internationally.

UMB Financial

Market Cap: US$10.2b

Operates as a bank holding company that provides banking services and asset servicing in the United States and internationally.

Interconexión Eléctrica E.S.P

Market Cap: Col$32.6t

Engages in the electric power, roads, and ICT and telecommunications business activities.

Vanguard International Semiconductor

Market Cap: NT$323.1b

Engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices in Taiwan and internationally.

Marks and Spencer Group

Market Cap: UK£7.6b

Operates various retail stores.

Budweiser Brewing Company APAC

Market Cap: HK$79.8b

An investment holding company, engages in brewing and distribution of beer in South Korea, Japan, New Zealand, China, India, Vietnam, Southeast Asia, and internationally.

Quebecor

Market Cap: CA$14.3b

Engages in the telecommunications, media, and sports and entertainment businesses in Canada.

GRINM Semiconductor Materials

Market Cap: CN¥68.1b

Engages in the research, development, production, and operation of silicon and other semiconductor materials and equipment in China.

Kesko Oyj

Market Cap: €8.9b

Engages in the chain operations in Finland, Sweden, Norway, Estonia, Latvia, Lithuania, Denmark, and Poland.

Maxone Semiconductor (Suzhou)

Market Cap: CN¥68.0b

Engages in the research, design, development, production, and sale of semiconductor chip test probe cards in China and internationally.

Ambuja Cements

Market Cap: ₹971.8b

Manufactures, markets, and sells cement and related products to individual home builders, developers, institutional clients, masons, contractors, architects, and construction professionals in India.

Beijing YanDong MicroElectronic

Market Cap: CN¥67.8b

Beijing YanDong MicroElectronic Co., Ltd.

Boubyan Bank K.S.C.P

Market Cap: د.ك3.1b

Provides various banking products and services in Kuwait, the Middle East, North Africa, Europe, the United Kingdom, and internationally.

Ensign Group

Market Cap: US$10.1b

Provides skilled nursing, senior living, and rehabilitative services.

Zhejiang Zheneng Electric Power

Market Cap: CN¥67.2b

Zhejiang Zheneng Electric Power Co., Ltd.

SouthState Bank

Market Cap: US$10.0b

Operates as the bank holding company for SouthState Bank, National Association that provides a range of banking services and products to individuals and companies in the United States.

Mebuki Financial GroupInc

Market Cap: JP¥1.6t

Provides banking products and financial services in Japan and internationally.