Malawian Utilities Defensive Blue Chips

Hang Seng Bank

Market Cap: HK$286.6b

Provides various banking and related financial services to individual, corporate, commercial, and small and medium sized enterprise customers in Hong Kong, Mainland China, and internationally.

Microchip Technology

Market Cap: US$36.7b

Develops, manufactures, and sells smart, connected, and secure embedded control solutions in the Americas, Europe, and Asia.

ResMed

Market Cap: US$36.7b

Develops, manufactures, distributes, and markets medical devices and cloud-based software applications to diagnose, treat, and manage respiratory disorders in the United States and internationally.

Telstra Group

Market Cap: AU$55.0b

Provides telecommunications and information services in Australia and internationally.

Hannover Rück

Market Cap: €31.1b

Provides reinsurance products and services in Germany, the United Kingdom, France, Europe, the United States, Asia, Australia, Africa, and internationally.

Hershey

Market Cap: US$36.5b

Engages in the manufacture and sale of confectionery products and pantry items in the United States and internationally.

Koninklijke Ahold Delhaize

Market Cap: €31.1b

Operates retail food stores and e-commerce in the Netherlands, the United States, and internationally.

Hartford Insurance Group

Market Cap: US$36.3b

Provides insurance and financial services to individual and business customers in the United States, the United Kingdom, and internationally.

RWE

Market Cap: €30.9b

Generates and supplies electricity from renewable and conventional sources in Germany, the United Kingdom, rest of Europe, North America, and internationally.

Intact Financial

Market Cap: CA$49.9b

Through its subsidiaries, provides property and casualty insurance products to individuals and businesses in Canada, the United States, the United Kingdom, and internationally.

Muyuan Foods

Market Cap: CN¥254.1b

Operates in the hog industry in China.

Swisscom

Market Cap: CHF 28.4b

Provides telecommunication services primarily in Switzerland, Italy, and internationally.

Sysco

Market Cap: US$35.2b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

Federal Home Loan Mortgage

Market Cap: US$35.1b

Operates in the secondary mortgage market in the United States.

Imperial Brands

Market Cap: UK£25.8b

Manufactures, imports, markets, and sells tobacco and tobacco-related products in Europe, the Americas, Africa, the Asia, Australasia, and internationally.

Consolidated Edison

Market Cap: US$34.4b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

MS&AD Insurance Group Holdings

Market Cap: JP¥5.4t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Disco

Market Cap: JP¥5.3t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Bank Leumi le-Israel B.M

Market Cap: ₪110.1b

Provides banking and financial services for households, small and medium enterprises, and corporations in Israel, the United Kingdom, and internationally.

ASE Technology Holding

Market Cap: NT$1.1t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

SSE

Market Cap: UK£25.2b

Engages in the generation, transmission, distribution, and supply of electricity.

China Unicom (Hong Kong)

Market Cap: HK$261.6b

An investment holding company, provides telecommunications and related value-added services in the People’s Republic of China.

Shenzhen Mindray Bio-Medical Electronics

Market Cap: CN¥236.8b

Shenzhen Mindray Bio-Medical Electronics Co., Ltd.

Kioxia Holdings

Market Cap: JP¥5.2t

Engages in the development, production and sale of flash memory and solid state drives (SSDs) in Japan and internationally.

CEZ a. s

Market Cap: Kč687.1b

Engages in the generation, distribution, trade, and sale of electricity and heat in Western, Central, and Southeastern Europe.

Talanx

Market Cap: €28.4b

Provides insurance and reinsurance products and services worldwide.

Chocoladefabriken Lindt & Sprüngli

Market Cap: CHF 26.4b

Engages in the manufacture and sale of chocolate products worldwide.

Power Corporation of Canada

Market Cap: CA$45.7b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Arch Capital Group

Market Cap: US$33.1b

Provides insurance, reinsurance, and mortgage insurance products in the United States, Canada, Bermuda, the United Kingdom, Europe, and Australia.

Sun Life Financial

Market Cap: CA$45.2b

A financial services company, provides asset management, wealth, insurance and health solutions to individual and institutional customers in Canada, the United States, the United Kingdom, Ireland, Hong Kong, the Philippines, Japan, Indonesia, India, China, Australia, Singapore, Vietnam, Malaysia, and Bermuda.

Seven & i Holdings

Market Cap: JP¥5.1t

Operates convenience stores, superstores, and department stores in Japan, North America, and internationally.

Fomento Económico Mexicano. de

Market Cap: Mex$589.9b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

Bank Rakyat Indonesia (Persero)

Market Cap: Rp545.1t

Provides various banking products and services in Indonesia and internationally.

Cathay Financial Holding

Market Cap: NT$1.0t

Through its subsidiaries, provides various financial products and services in Taiwan, rest of Asia, and internationally.

Chunghwa Telecom

Market Cap: NT$1.0t

Operates as an integrated telecommunications service provider in Taiwan and internationally.

Invest bank P.S.C

Market Cap: د.إ118.4b

A commercial bank, provides a range of financial products and services to corporate and retail customers in the United Arab Emirates and Lebanon.