Zambian Telecom Defensive Blue Chips

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.

Sichuan Chuantou EnergyLtd

Market Cap: CN¥75.4b

Engages in the clean energy business in China.

Rambus

Market Cap: US$11.1b

Manufactures and sells semiconductor products in the United States, South Korea, Singapore, and internationally.

Max Healthcare Institute

Market Cap: ₹1.1t

Provides medical and healthcare services in India.

Hong Leong Bank Berhad

Market Cap: RM 45.2b

Operates as a financial services company in Malaysia and internationally.

Indus Towers

Market Cap: ₹1.1t

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.

UMB Financial

Market Cap: US$11.0b

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

Popular

Market Cap: US$11.0b

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.

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.

Budweiser Brewing Company APAC

Market Cap: HK$86.4b

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

Arab National Bank

Market Cap: ر.س41.4b

Provides various banking products and services in the Kingdom of Saudi Arabia, Other GCC and the Middle East, Europe, North America, Latin America, Southeast Asia, and internationally.

Safaricom

Market Cap: KSh1.4t

Provides telecommunication services in Kenya and Ethiopia.

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.

BDO Unibank

Market Cap: ₱676.5b

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

Ingenic SemiconductorLtd

Market Cap: CN¥74.4b

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

Wintrust Financial

Market Cap: US$11.0b

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

Encompass Health

Market Cap: US$10.9b

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

Absa Group

Market Cap: R179.5b

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

Commercial Bank for Investment and Development of Vietnam

Market Cap: ₫286.1t

Provides various banking products and services in Vietnam and internationally.

Vanguard International Semiconductor

Market Cap: NT$350.1b

Engages in manufacturing, selling, packaging, testing, and computer-aided design of integrated circuits and other semiconductor devices in Taiwan and internationally.

Chongqing Rural Commercial Bank

Market Cap: HK$84.7b

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

Mowi

Market Cap: NOK 104.4b

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

ROHM

Market Cap: JP¥1.7t

Manufactures and sells electronic components worldwide.

Orkla

Market Cap: NOK 104.3b

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

Quebecor

Market Cap: CA$15.1b

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

Ryan Specialty Holdings

Market Cap: US$10.7b

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.

Marks and Spencer Group

Market Cap: UK£7.9b

Operates various retail stores.

Globus Medical

Market Cap: US$10.7b

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

CPFL Energia

Market Cap: R$54.4b

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

China Zheshang Bank

Market Cap: HK$83.5b

Provides corporate and retail banking services in Mainland China.

J Sainsbury

Market Cap: UK£7.9b

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

SG Micro

Market Cap: CN¥71.6b

Engages in the development, manufacturing and sales of comprehensive analog and mixed-signal integrated-circuit (IC) solutions in Mainland China, Hong Kong, Taiwan, and internationally.

Zions Bancorporation National Association

Market Cap: US$10.5b

Provides various banking products and related services primarily in the states of Arizona, California, Colorado, Idaho, Nevada, New Mexico, Oregon, Texas, Utah, Washington, and Wyoming.

Interconexión Eléctrica E.S.P

Market Cap: Col$34.1t

Engages in the electric power, roads, and ICT and telecommunications business activities.

Discovery

Market Cap: R173.3b

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

Centrica

Market Cap: UK£7.8b

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