Malawian Utilities Defensive Blue Chips

OTP Bank Nyrt

Market Cap: Ft9.2t

Provides commercial banking services to individuals, municipalities, corporations, and enterprises.

Huntington Bancshares

Market Cap: US$27.9b

Operates as the bank holding company for The Huntington National Bank that provides commercial, consumer, and mortgage banking services in the United States.

Brown & Brown

Market Cap: US$27.9b

Brown & Brown, Inc. markets and sells insurance products and services in the United States, Canada, Ireland, the United Kingdom, and internationally.

ABN AMRO Bank

Market Cap: €23.7b

Provides various banking products and financial services to retail, private, and business clients in the Netherlands, rest of Europe, the United States, Asia, and internationally.

Naturgy Energy Group

Market Cap: €23.5b

Engages in the supply, liquefaction, regasification, transport, storage, distribution, and sale of gas.

China Tower

Market Cap: HK$214.7b

Provides telecommunication tower infrastructure services in the People's Republic of China.

Avenue Supermarts

Market Cap: ₹2.5t

Engages in the business of organized retail and operating supermarkets under the D-Mart brand name in India.

Capitec Bank Holdings

Market Cap: R461.9b

Through its subsidiaries, provides various banking products and services in South Africa.

First Solar

Market Cap: US$27.3b

A solar technology company, provides photovoltaic (PV) solar energy solutions in the United States, France, India, Chile, and internationally.

Markel Group

Market Cap: US$27.3b

Through its subsidiaries, engages in the insurance business in the United States and internationally.

Atmos Energy

Market Cap: US$27.2b

Engages in the regulated natural gas distribution, and pipeline and storage businesses in the United States.

Grupo Financiero Banorte. de

Market Cap: Mex$487.9b

Through its subsidiaries, engages in the provision of banking and financial products and services in Mexico and internationally.

Bank of Jiangsu

Market Cap: CN¥190.7b

Provides various banking products and services in China.

Power Grid Corporation of India

Market Cap: ₹2.5t

An electric power transmission utility, engages in the power transmission business in India and internationally.

Bank Mandiri (Persero)

Market Cap: Rp449.9t

Provides various banking products and services to individuals and businesses in Indonesia, Singapore, Hong Kong, Timor Leste, Shanghai, Malaysia, England, and the Cayman Islands.

Standard Bank Group

Market Cap: R448.0b

Provides financial products and services in South Africa and internationally.

New China Life Insurance

Market Cap: CN¥186.1b

Provides life insurance products and services to individuals and institutions in China.

Aviva

Market Cap: UK£19.7b

Provides various insurance, retirement, and wealth products in the United Kingdom, Ireland, Canada, and internationally.

W. R. Berkley

Market Cap: US$26.3b

An insurance holding company, operates as a commercial line writer worldwide.

Nestlé India

Market Cap: ₹2.4t

Engages in the manufacture and sale of food products in India and internationally.

George Weston

Market Cap: CA$36.1b

Provides food and drug retailing, and financial services in Canada.

DexCom

Market Cap: US$26.1b

A medical device company, focuses on the design, development, and commercialization of continuous glucose monitoring (CGM) systems in the United States and internationally.

Credo Technology Group Holding

Market Cap: US$26.0b

Provides various high-speed connectivity solutions for optical and electrical Ethernet, and PCIe applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally.

Bank of Ningbo

Market Cap: CN¥183.1b

Provides various personal and business banking products and services in the People's Republic of China.

BNP Paribas Fortis

Market Cap: €22.0b

Provides various financial services in Belgium, Turkey, Luxembourg, and internationally.

Cincinnati Financial

Market Cap: US$25.9b

Provides property casualty insurance products in the United States.

Dollar Tree

Market Cap: US$25.8b

Operates retail discount stores under the Dollar Tree and Dollar Tree Canada brands in the United States and Canada.

Luzhou LaojiaoLtd

Market Cap: CN¥181.0b

Produces and sells alcoholic products in China and internationally.

CGN Power

Market Cap: HK$199.8b

Operates and manages nuclear power stations, sells electricity generated by these stations, and provides related technical services in the People’s Republic of China.

American Water Works Company

Market Cap: US$25.7b

Through its subsidiaries, provides water and wastewater services in the United States.

Inner Mongolia Yili Industrial Group

Market Cap: CN¥180.9b

Inner Mongolia Yili Industrial Group Co., Ltd.

Constellation Brands

Market Cap: US$25.7b

Produces, imports, markets, and sells beer, wine, and spirits in the United States, Canada, Mexico, New Zealand, and Italy.

Renesas Electronics

Market Cap: JP¥4.0t

Researches, develops, designs, manufactures, sells, and services semiconductors in Japan, China, rest of Asia, Europe, North America, and internationally.

China National Nuclear Power

Market Cap: CN¥180.6b

Engages in the investment, development, construction, operation, and management of nuclear power projects in the People's Republic of China.

Shinhan Financial Group

Market Cap: ₩37.4t

Provides financial products and services in South Korea and internationally.

EnBW Energie Baden-Württemberg

Market Cap: €21.7b

Operates as an integrated energy company in Germany, Rest of Europe, and internationally.