Ugandan Retail Defensive Blue Chips

Zurich Insurance Group

Market Cap: CHF 79.5b

Provides insurance products and related services in Europe, the Middle East, Africa, North America, Latin America, and the Asia Pacific.

Marsh & McLennan Companies

Market Cap: US$100.2b

A professional services company, provides advisory services and insurance solutions to clients in the areas of risk, strategy, and people worldwide.

Sumitomo Mitsui Financial Group

Market Cap: JP¥15.0t

Provides banking, leasing, securities, consumer finance, and other services in Japan, the Americas, Europe, the Middle East, Asia, and Oceania.

McKesson

Market Cap: US$98.5b

Provides healthcare services in the United States and internationally.

HCA Healthcare

Market Cap: US$98.3b

Through its subsidiaries, owns and operates hospitals and related healthcare entities in the United States.

AXA

Market Cap: €83.9b

Through its subsidiaries, insurance, asset management, and banking services worldwide.

China Yangtze Power

Market Cap: CN¥687.8b

Engages in hydropower generation business in China, Portugal, Peru, Brazil, and Pakistan.

Postal Savings Bank of China

Market Cap: HK$731.2b

Provides various banking products and services for retail and corporate customers in the People’s Republic of China.

AIA Group

Market Cap: HK$724.1b

Provides life insurance based financial services in Hong Kong.

State Bank of India

Market Cap: ₹8.2t

Provides banking products and services in India and internationally.

Tokyo Electron

Market Cap: JP¥13.8t

Develops, manufactures, and sells semiconductor production equipment in Japan, South Korea, Taiwan, China, North America, Europe, and internationally.

Bank of Montreal

Market Cap: CA$129.0b

Engages in the provision of diversified financial services primarily in North America.

Econet Wireless Zimbabwe

Market Cap: US$11.5b

Through its subsidiaries, primarily provides mobile telecommunications and related overlay services in Zimbabwe.

Semiconductor Manufacturing International

Market Cap: HK$680.7b

An investment holding company, engages in the manufacture, testing, and sale of integrated circuits wafer and various compound semiconductors in the United States, China, and Eurasia.

NTT

Market Cap: JP¥13.1t

Operates as a telecommunications company in Japan and internationally.

National Australia Bank

Market Cap: AU$132.3b

Provides financial services to individuals and businesses in Australia, New Zealand, Europe, Asia, the United States, and internationally.

Westpac Banking

Market Cap: AU$132.3b

Provides banking and other financial services in Australia, New Zealand, the Pacific Islands, Asia, the Americas, and Europe.

China Telecom

Market Cap: HK$664.6b

Provides mobile communications, wireline and satellite communications, internet access, cloud computing and computing power, AI, big data, quantum, ICT integration in the People’s Republic of China.

Münchener Rückversicherungs-Gesellschaft in München

Market Cap: €71.1b

Engages in the insurance and reinsurance businesses worldwide.

Bank of Communications

Market Cap: HK$640.8b

Provides commercial banking products and services in China and internationally.

Advantest

Market Cap: JP¥12.3t

Manufactures and sells semiconductors, component test systems, and mechatronics-related products in Japan, rest of Asia, the Americas, and Europe.

Bank of Nova Scotia

Market Cap: CA$112.5b

Provides various banking products and services in Canada, the United States, Mexico, Peru, Chile, Colombia, the Caribbean and Central America, and internationally.

CRH

Market Cap: US$79.5b

Provides building materials solutions in Ireland, the United States, the United Kingdom, rest of Europe, and internationally.

Elevance Health

Market Cap: US$78.7b

Operates as a health benefits company in the United States.

Cigna Group

Market Cap: US$78.6b

Provides insurance and related products and services in the United States.

Nongfu Spring

Market Cap: HK$599.4b

Produces and sells packaged drinking water and beverage products primarily in Mainland China.

Aon

Market Cap: US$76.7b

A professional services firm, provides a range of risk and human capital solutions worldwide.

Marvell Technology

Market Cap: US$76.6b

Provides data infrastructure semiconductor solutions, spanning the data center core to network edge.

Canadian Imperial Bank of Commerce

Market Cap: CA$106.8b

A diversified financial institution, provides various financial products and services to personal, business, public sector, and institutional clients in Canada, the United States, and internationally.

Arthur J. Gallagher

Market Cap: US$75.9b

Provides insurance and reinsurance brokerage, consulting, and third-party property/casualty claims settlement and administration services to entities and individuals worldwide.

Tokio Marine Holdings

Market Cap: JP¥11.4t

Engages in the non-life and life insurance, and financial and general businesses in Japan and internationally.

Mizuho Financial Group

Market Cap: JP¥11.4t

Engages in banking, trust banking, securities, and other businesses related to financial services in Japan, the Americas, Europe, Asia/Oceania, and internationally.

National Grid

Market Cap: UK£55.7b

Engages in the transmission and distribution of electricity and gas.

Barito Renewables Energy

Market Cap: Rp1244.2t

Engages in the generation and sale of power through geothermal and wind resources in Indonesia.

Hygon Information Technology

Market Cap: CN¥529.6b

Engages in the research and development of computing chip products and systems in China.

CaixaBank

Market Cap: €63.4b

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