Zambian Software Defensive Blue Chips

BOC Hong Kong (Holdings)

Market Cap: HK$464.1b

An investment holding company, provides banking and related financial services to corporate and individual customers in Hong Kong, China, and internationally.

NXP Semiconductors

Market Cap: US$59.3b

Provides semiconductor products in the United States, Germany, Japan, South Korea, Taiwan, Singapore, the Netherlands, Mainland China, Hong Kong, and internationally.

Monolithic Power Systems

Market Cap: US$59.1b

Designs, develops, markets, and sells semiconductor-based power electronics solutions for the storage and computing, automotive, enterprise data, consumer, communications, and industrial markets in the United States, China, Taiwan, South Korea, Europe, Southeast Asia, Japan, and internationally.

Wuliangye YibinLtd

Market Cap: CN¥403.2b

Manufactures and sells liquor and wine products and related auxiliary products under the Wuliangye brand in China.

FBC Holdings

Market Cap: US$7.6b

Through its subsidiaries, provides commercial and wholesale banking, mortgage financing, micro lending, reinsurance, short-term insurance, and stockbroking services in Zimbabwe.

Wal-Mart de México. de

Market Cap: Mex$1.0t

Owns and operates self-service stores in Mexico and Central America.

Aflac

Market Cap: US$58.3b

Through its subsidiaries, provides supplemental health and life insurance products.

Loblaw Companies

Market Cap: CA$79.0b

A food and pharmacy company, provides grocery, pharmacy and healthcare services, health and beauty products, apparel, general merchandise, financial services, and wireless mobile products and services in Canada and the United States.

Alimentation Couche-Tard

Market Cap: CA$78.1b

Operates and licenses convenience stores in North America, Europe, and Asia.

China CITIC Bank

Market Cap: CN¥389.4b

Provides various banking products and services in the People’s Republic of China and internationally.

Orange

Market Cap: €48.0b

Operates as a telecommunications operator in France and internationally.

Industrial Bank

Market Cap: CN¥386.2b

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

Saudi Telecom

Market Cap: ر.س208.7b

Provides telecommunications, information, media, and digital payment services in the Kingdom of Saudi Arabia and internationally.

Arthur J. Gallagher

Market Cap: US$55.5b

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

Standard Chartered

Market Cap: UK£40.8b

Provides various banking products and services in Asia, Africa, the Middle East, Europe, and the Americas.

Siemens Healthineers

Market Cap: €46.6b

Through its subsidiaries, develops, manufactures, and sells a range of diagnostic and therapeutic products and services to healthcare providers in Germany, the United States, rest of Europe, CIS, Africa, the Middle East, the Americas, the Asia Pacific, Japan, and China.

Disco

Market Cap: JP¥8.6t

Manufactures and sells precision cutting, grinding, and polishing machines in Japan and internationally.

Danone

Market Cap: €46.4b

Operates in the food and beverage industry in Europe, Ukraine, North America, China, North Asia, the Oceania, Latin America, rest of Asia, Africa, Turkey, the Middle East, and the Commonwealth of Independent States.

Allstate

Market Cap: US$54.5b

Provides property and casualty, and other insurance products in the United States and Canada.

ASE Technology Holding

Market Cap: NT$1.7t

Provides semiconductor manufacturing services in the United States, Taiwan, rest of Asia, Europe, and internationally.

Bank Central Asia

Market Cap: Rp898.0t

Provides commercial banking and other financial services.

Teradyne

Market Cap: US$53.7b

Engages in the design, development, manufacture, and sale of automated test systems and robotics products in the United States, Asia Pacific, Europe, the Middle East, and Africa.

China Pacific Insurance (Group)

Market Cap: CN¥366.9b

Provides insurance products to individual and institutional customers in the People’s Republic of China.

KBC Group

Market Cap: €45.3b

Provides banking, insurance, and asset management services primarily for retail, private banking, small and medium sized enterprises, and mid-cap clients in Belgium, Bulgaria, the Czech Republic, Hungary, and Slovakia.

Cardinal Health

Market Cap: US$53.2b

Operates as a healthcare services and products company in the United States and internationally.

Target

Market Cap: US$52.3b

Operates as a general merchandise retailer in the United States.

Holcim

Market Cap: CHF 40.3b

Provides building materials and solutions worldwide.

Becton Dickinson

Market Cap: US$52.0b

Develops, manufactures, and sells medical supplies, devices, laboratory equipment, and diagnostic products for healthcare institutions, physicians, life science researchers, clinical laboratories, pharmaceutical industry, and the general public worldwide.

NAURA Technology Group

Market Cap: CN¥354.4b

Engages in the research and development, production, sale, and technical services of semiconductors in the People's Republic of China.

IDEXX Laboratories

Market Cap: US$51.7b

Develops, manufactures, and distributes products for the companion animal veterinary, livestock and poultry, dairy, and water testing industries in the United States and internationally.

People's Insurance Company (Group) of China

Market Cap: HK$402.1b

An investment holding company, provides insurance products and services in the People’s Republic of China and Hong Kong.

Heineken

Market Cap: €43.0b

Heineken N.V. brews and sells beer and cider in Europe, the Americas, Africa, the Middle East, and the Asia Pacific.

Ambev

Market Cap: R$258.9b

Through its subsidiaries, engages in the production, distribution, and sale of beer, draft beer, soft drinks, malt and food, and other beverages in Brazil, Central America and Caribbean, Latin America South, and Canada.

Emirates Telecommunications Group Company PJSC

Market Cap: د.إ184.7b

Provides telecommunications services, media, and related equipment in the United Arab Emirates and internationally.

National Bank of Canada

Market Cap: CA$68.7b

Provides financial services to individuals, businesses, institutional clients, and governments in Canada and internationally.

Swiss Re

Market Cap: CHF 38.7b

Provides reinsurance, insurance, other insurance-based forms of risk transfer, and other insurance-related services worldwide.