Nigerian Materials Defensive Blue Chips

Budweiser Brewing Company APAC

Market Cap: HK$87.0b

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

Absa Group

Market Cap: R181.7b

Provides retail, business, corporate, investment banking, insurance, financial, and wealth management products and services in South Africa and internationally.

Erie Indemnity

Market Cap: US$11.0b

Operates as a managing attorney-in-fact for the subscribers at the Erie Insurance Exchange in the United States.

Encompass Health

Market Cap: US$11.0b

Operates inpatient rehabilitation hospitals in the United States and Puerto Rico.

Insulet

Market Cap: US$11.0b

Develops, manufactures, and sells insulin delivery systems for people with insulin-dependent diabetes in the United States and internationally.

Sanlam

Market Cap: R180.6b

Provides various financial services in South Africa, Pan-Africa, Asia, and internationally.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

Mowi

Market Cap: NOK 105.1b

A seafood company, produces and sells Atlantic salmon products worldwide.

Shizuoka Financial GroupInc

Market Cap: JP¥1.8t

Provides various banking products and services.

China Zheshang Bank

Market Cap: HK$85.6b

Provides corporate and retail banking services in Mainland China.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Manila Electric

Market Cap: ₱674.0b

Manila Electric Company holds a congressional franchise to construct, operate, and maintain an electric distribution system in the Philippines.

Magnum Ice Cream

Market Cap: €9.6b

Engages in the ice cream business in the Netherlands.

Ambuja Cements

Market Cap: ₹1.1t

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

BDO Unibank

Market Cap: ₱672.3b

Provides various banking products and services to individuals and corporations in the Philippines and internationally.

Ingenic SemiconductorLtd

Market Cap: CN¥73.4b

Engages in the research and development, design, and sale of integrated circuit chip products in China and internationally.

King Yuan Electronics

Market Cap: NT$349.7b

Designs, manufactures, sells, tests, and assembles integrated circuits.

Zhejiang Zheneng Electric Power

Market Cap: CN¥73.1b

Zhejiang Zheneng Electric Power Co., Ltd.

Chongqing Rural Commercial Bank

Market Cap: HK$84.5b

Provides banking and related financial services in the People’s Republic of China.

UMB Financial

Market Cap: US$10.7b

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

Wintrust Financial

Market Cap: US$10.7b

A financial holding company, provides community-oriented, personal, and commercial banking services in the United States.

Indus Towers

Market Cap: ₹1.0t

A telecom infrastructure company, engages in the operation and maintenance of wireless communication towers and related infrastructures for various telecom service providers in India, Nigeria, Uganda, and Zambia.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥72.1b

Beijing Huafeng Test & Control Technology Co.,Ltd.

Quebecor

Market Cap: CA$15.0b

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

CPFL Energia

Market Cap: R$53.8b

Through its subsidiaries, operates as an energy company in Brazil.

Bangkok Bank

Market Cap: ฿357.0b

Provides various commercial banking products and services in Thailand and internationally.

Maplebear

Market Cap: US$10.5b

Maplebear Inc., doing business as Instacart, operates as a technology and enablement partner for the grocery industry in the United States and internationally.

Taiwan Mobile

Market Cap: NT$339.4b

Provides telecommunications, broadband, retail, digital, and financial services in Taiwan and internationally.

Marks and Spencer Group

Market Cap: UK£7.9b

Operates various retail stores.

TIM

Market Cap: R$52.8b

Engages in the telecommunications sector in Brazil.

United Spirits

Market Cap: ₹1.0t

Manufactures, sells, and distributes alcoholic beverages and other allied spirits in India and internationally.

Orkla

Market Cap: NOK 100.2b

Operates as an industrial investment company within brands and consumer-oriented businesses worldwide.

Smithfield Foods

Market Cap: US$10.4b

Produces various packaged meats and fresh pork products in the United States and internationally.

Discovery

Market Cap: R170.6b

Provides various insurance products and services primarily in South Africa and the United Kingdom.

Ryan Specialty Holdings

Market Cap: US$10.4b

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.

Globalstar

Market Cap: US$10.3b

Provides mobile satellite services in the United States, Canada, Europe, Central and South America, and internationally.