Tunisian Utilities Defensive Blue Chips

SD Guthrie Berhad

Market Cap: RM 45.4b

Operates as an integrated plantations company in Malaysia and internationally.

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.

Alpha Bank

Market Cap: €9.6b

Provides various banking and financial products and services in Greece and internationally.

Hong Leong Bank Berhad

Market Cap: RM 45.2b

Operates as a financial services company in Malaysia and internationally.

UMB Financial

Market Cap: US$11.1b

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

Encompass Health

Market Cap: US$11.0b

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

Ooredoo Q.P.S.C

Market Cap: ر.ق40.0b

Provides telecommunications services in Qatar, rest of the Middle East, Asia, and North Africa region.

Sanlam

Market Cap: R181.6b

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

Chongqing Rural Commercial Bank

Market Cap: HK$85.8b

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

Bangkok Bank

Market Cap: ฿365.5b

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

Realtek Semiconductor

Market Cap: NT$352.1b

Engages in the research, development, production, and sale of various integrated circuits and related application software in Taiwan, Asia, and internationally.

Globus Medical

Market Cap: US$10.9b

Develops and commercializes healthcare solutions for patients with musculoskeletal disorders in the United States and internationally.

Turkiye Garanti Bankasi

Market Cap: ₺517.0b

Provides various banking products and services in Turkey.

BDO Unibank

Market Cap: ₱664.3b

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

Kokusai Electric

Market Cap: JP¥1.7t

Engages in the development, manufacture, sale, repair, and maintenance of semiconductor manufacturing equipment worldwide.

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.

Wintrust Financial

Market Cap: US$10.8b

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

Busy Ming Group

Market Cap: HK$84.1b

Through its subsidiaries, operates as a food and beverage retailer in China.

Orkla

Market Cap: NOK 101.8b

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

China Resources Microelectronics

Market Cap: CN¥72.1b

Engages in the manufacture and sale of semiconductors in China and internationally.

Semtech

Market Cap: US$10.7b

Provides semiconductor, Internet of Things systems, and cloud connectivity service solutions in the Asia- Pacific, North America, and Europe.

Italgas

Market Cap: €9.2b

Engages in the distribution of natural gas in Italy, Greece, and Other European Union countries.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥71.7b

Beijing Huafeng Test & Control Technology Co.,Ltd.

Lotus Bakeries

Market Cap: €9.2b

Provides various snack products in Belgium and internationally.

Beijing YanDong MicroElectronic

Market Cap: CN¥71.3b

Beijing YanDong MicroElectronic Co., Ltd.

Discovery

Market Cap: R174.6b

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

Shizuoka Financial GroupInc

Market Cap: JP¥1.7t

Provides various banking products and services.

Taiwan Mobile

Market Cap: NT$340.9b

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

Quebecor

Market Cap: CA$14.8b

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

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.

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫276.6t

Provides various banking products and services in Vietnam and internationally.

CPFL Energia

Market Cap: R$53.1b

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

Smithfield Foods

Market Cap: US$10.5b

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

ROHM

Market Cap: JP¥1.7t

Manufactures and sells electronic components worldwide.

J Sainsbury

Market Cap: UK£7.8b

Engages in the food, general merchandise and clothing retailing, and financial services activities in the United Kingdom.

Old Republic International

Market Cap: US$10.4b

Through its subsidiaries, provides insurance underwriting and related services in the United States and Canada.