Malawian Utilities Defensive Blue Chips

NAURA Technology Group

Market Cap: CN¥328.2b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

Kuwait Finance House K.S.C.P

Market Cap: د.ك14.2b

Provides Islamic banking products and services in the Middle East, Europe, and internationally.

E.ON

Market Cap: €39.2b

Operates as an energy company in Germany, the United Kingdom, Sweden, the Netherlands, rest of Europe, and internationally.

Commerzbank

Market Cap: €38.8b

Provides banking and capital market products and services to private and small business customers, corporate, financial service providers, and institutional clients in Germany, rest of Europe, the Americas, Asia, and internationally.

Erste Group Bank

Market Cap: €38.7b

Provides a range of banking and other financial services to retail, corporate, and public sector customers.

Heineken

Market Cap: €38.2b

Heineken N.V. brews and sells beer and cider in the Americas, Europe, Africa, the Middle East, and the Asia Pacific.

FBC Holdings

Market Cap: US$5.7b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ160.9b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

United Overseas Bank

Market Cap: S$56.6b

Provides banking products and services worldwide.

American International Group

Market Cap: US$43.7b

Offers insurance products for commercial, institutional, and individual customers in North America and internationally.

Axis Bank

Market Cap: ₹3.9t

Provides various financial products and services in India and internationally.

Great-West Lifeco

Market Cap: CA$59.7b

Engages in the life and health insurance, retirement savings, wealth and asset management, and reinsurance businesses in Canada, the United States, and Europe.

Orange

Market Cap: €36.5b

Operates as a telecommunications operator in France and internationally.

Target

Market Cap: US$42.8b

Operates as a general merchandise retailer in the United States.

Fubon Financial Holding

Market Cap: NT$1.3t

Provides various financial services in Taiwan, Asia, and internationally.

Skandinaviska Enskilda Banken

Market Cap: SEK 380.6b

Provides corporate, retail, investment, and private banking services.

Coca-Cola Europacific Partners

Market Cap: €34.5b

Produces, distributes, and sells a range of non-alcoholic ready to drink beverages.

Aeon

Market Cap: JP¥6.3t

Operates in the retail industry in Japan, China, ASEAN countries, and internationally.

Danske Bank

Market Cap: DKK 255.9b

Provides various banking products and services to corporate, institutional, and international clients.

DNB Bank

Market Cap: NOK 400.5b

Provides financial services to individuals and businesses in Norway and internationally.

ACWA Power

Market Cap: ر.س149.0b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

Fairfax Financial Holdings

Market Cap: CA$54.4b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in the United States, Canada, the Middle East, Asia, and internationally.

Huadian New Energy Group

Market Cap: CN¥277.4b

Engages in the power generation business in China.

Ambev

Market Cap: R$212.1b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, carbonated soft drinks, malt and food, other alcoholic beverages, and non-alcoholic and non-carbonated products in Brazil, Central America and Caribbean, Latin America South, and Canada.

Vulcan Materials

Market Cap: US$39.2b

Produces and supplies construction aggregates in the United States.

Alcon

Market Cap: CHF 30.9b

Researches, develops, manufactures, distributes, and sells eye care products worldwide.

GE HealthCare Technologies

Market Cap: US$38.5b

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.

Tesco

Market Cap: UK£28.5b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

Swedbank

Market Cap: SEK 352.7b

Provides various banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ140.0b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Veeva Systems

Market Cap: US$37.7b

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

QNB Bank

Market Cap: ₺1.6t

Provides various banking products and services in Turkey.

Martin Marietta Materials

Market Cap: US$37.6b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

UltraTech Cement

Market Cap: ₹3.4t

Engages in the manufacture and sale of clinker, cement, ready mix concrete, and related products in India, the United Arab Emirates, Bahrain, and Sri Lanka.

Prudential

Market Cap: UK£27.6b

Through its subsidiaries, provides life and health insurance, and asset management solutions to individuals in Asia and Africa.

Endesa

Market Cap: €31.4b

Engages in the generation, distribution, and sale of electricity in Spain, Portugal, France, Germany, the United Kingdom, Switzerland, Luxembourg, the Netherlands, Singapore, Italy, Morocco, and internationally.