Zambian Utilities Defensive Blue Chips

MetaX Integrated Circuits (Shanghai)

Market Cap: CN¥292.2b

MetaX Integrated Circuits (Shanghai) Co., Ltd.

Shanghai Pudong Development Bank

Market Cap: CN¥291.8b

Provides commercial banking products and services in China and internationally.

DNB Bank

Market Cap: NOK 425.9b

Provides financial services to individuals and businesses in Norway and internationally.

FBC Holdings

Market Cap: US$5.5b

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

Danske Bank

Market Cap: DKK 279.0b

Provides various banking products and services to corporate, institutional, and international clients.

Bank Central Asia

Market Cap: Rp758.8t

Provides commercial banking and other financial services.

Rocket Companies

Market Cap: US$41.8b

A fintech company, engages in the mortgage, real estate, and personal finance businesses in the United States and Canada.

Federal National Mortgage Association

Market Cap: US$41.8b

Provides financing solutions for residential mortgages in the United States.

Wuliangye YibinLtd

Market Cap: CN¥284.0b

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

Becton Dickinson

Market Cap: US$41.7b

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.

Swedbank

Market Cap: SEK 403.3b

Provides banking products and services to private and corporate customers in Sweden, Estonia, Latvia, Lithuania, Norway, the United States, Finland, Denmark, Luxembourg, and China.

People's Insurance Company (Group) of China

Market Cap: HK$324.0b

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

Swisscom

Market Cap: CHF 33.1b

Provides telecommunication services in Switzerland, Italy, and internationally.

Consolidated Edison

Market Cap: US$40.8b

Through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States.

PICC Property and Casualty

Market Cap: HK$319.4b

Engages in property and casualty insurance business in People’s Republic of China.

Vulcan Materials

Market Cap: US$40.6b

Produces and supplies construction aggregates in the United States.

ACWA Power

Market Cap: ر.س152.1b

Engages in the investment, development, operation, and maintenance of power generation, water desalination, and green hydrogen production plants in the Kingdom of Saudi Arabia, the Middle East, Asia, and Africa.

American International Group

Market Cap: US$39.7b

Provides insurance products for commercial, institutional, and individual customers in North America and internationally.

Telstra Group

Market Cap: AU$57.1b

Provides telecommunications and information services in Australia and internationally.

OTP Bank Nyrt

Market Cap: Ft12.2t

Provides various commercial banking services.

Sysco

Market Cap: US$38.7b

Through its subsidiaries, engages in the marketing and distribution of various food and related products to the foodservice or food-away-from-home industry in the United States, Canada, the United Kingdom, France, and internationally.

SSE

Market Cap: UK£29.2b

Engages in the generation, transmission, distribution, and supply of electricity.

ITC

Market Cap: ₹3.6t

Engages in the fast-moving consumer goods, paperboards, paper and packaging, and agri businesses in India and internationally.

Daiichi Life Group

Market Cap: JP¥6.2t

Through its subsidiaries, provides insurance products in Japan, the United States, and internationally.

Fomento Económico Mexicano. de

Market Cap: Mex$670.9b

Through its subsidiaries, operates as a franchise bottler of Coca-Cola trademark beverages worldwide.

Skandinaviska Enskilda Banken

Market Cap: SEK 372.4b

Provides corporate, retail, investment, and private banking services.

China Pacific Insurance (Group)

Market Cap: CN¥259.6b

Provides insurance products to in the People’s Republic of China.

Tesco

Market Cap: UK£28.9b

Operates as a grocery retailer in the United Kingdom, Republic of Ireland, the Czech Republic, Slovakia, and Hungary.

MS&AD Insurance Group Holdings

Market Cap: JP¥6.2t

An insurance holding company, engages in the provision of insurance and financial services worldwide.

Fairfax Financial Holdings

Market Cap: CA$53.9b

Through its subsidiaries, provides property and casualty insurance and reinsurance, and investment management services in Canada, the United States, the Middle East and Asia, and internationally.

Power Corporation of Canada

Market Cap: CA$53.9b

An international management and holding company, provides financial services in North America, Europe, and Asia.

Martin Marietta Materials

Market Cap: US$37.8b

A natural resource-based building materials company, supplies aggregates and heavy-side building materials to the construction industry in the United States and internationally.

PG&E

Market Cap: US$37.6b

Through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States.

Dubai Electricity and Water Authority (PJSC)

Market Cap: د.إ137.5b

Generates, transmits, and distributes electricity for residential, commercial, industrial, and government customers primarily in Dubai.

Banca Monte dei Paschi di Siena

Market Cap: €32.9b

Provides various banking products and services in Italy and internationally.

Heidelberg Materials

Market Cap: €32.5b

Produces and distributes cement, aggregates, ready-mixed concrete, and asphalt worldwide.