Ugandan Materials Defensive Blue Chips

SD Guthrie Berhad

Market Cap: RM 45.6b

Operates as an integrated plantations company in Malaysia and internationally.

Encompass Health

Market Cap: US$11.1b

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

Popular

Market Cap: US$11.1b

Through its subsidiaries, provides various retail, mortgage, and commercial banking services for individuals and businesses in Puerto Rico, the United States, the British Virgin Islands, the Caribbean, and Latin America.

Magnum Ice Cream

Market Cap: €9.7b

Engages in the ice cream business in the Netherlands.

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.

BUA Foods

Market Cap: ₦15.2t

Processes, manufactures, produces, and distributes food materials in Nigeria.

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.

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.

Marks and Spencer Group

Market Cap: UK£8.2b

Operates various retail stores.

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.

Beijing Huafeng Test & Control TechnologyLtd

Market Cap: CN¥74.0b

Beijing Huafeng Test & Control Technology Co.,Ltd.

UMB Financial

Market Cap: US$10.9b

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

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.

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.

Centrica

Market Cap: UK£8.1b

Operates as an integrated energy company in the United Kingdom, Ireland, Scandinavia, North America, and internationally.

King Yuan Electronics

Market Cap: NT$349.7b

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

China Zheshang Bank

Market Cap: HK$84.6b

Provides corporate and retail banking services in Mainland China.

Zhejiang Zheneng Electric Power

Market Cap: CN¥73.1b

Zhejiang Zheneng Electric Power Co., Ltd.

Ryan Specialty Holdings

Market Cap: US$10.8b

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.

Chongqing Rural Commercial Bank

Market Cap: HK$84.5b

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

Orkla

Market Cap: NOK 103.1b

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

Wintrust Financial

Market Cap: US$10.7b

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

Maplebear

Market Cap: US$10.7b

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

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.

CPFL Energia

Market Cap: R$53.8b

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

Quebecor

Market Cap: CA$15.0b

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

BDO Unibank

Market Cap: ₱655.7b

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

Bangkok Bank

Market Cap: ฿357.0b

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

Taiwan Mobile

Market Cap: NT$340.9b

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

TIM

Market Cap: R$52.8b

Engages in the telecommunications sector in Brazil.

Smithfield Foods

Market Cap: US$10.4b

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

Alpha Bank

Market Cap: €9.1b

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

Discovery

Market Cap: R170.6b

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