Progress seeks to get a good return on its investments of a total of approximately 4 billion euro. This is necessary in order to keep pensions affordable and to be able to increase them annually. To achieve this, Progress applies an investment policy that aspires to an optimal balance between return and risk. More information about this can be found further on in this part of the website.
Progress does not want to achieve these results at any cost. Therefore, when we compile our investment portfolio we check whether companies engage in activities we cannot approve of. Nor do we want to take any unwarranted risks with our investments. In addition, we avoid any form of conflict of interests. To that end, the Progress Board and employees sign a Code of Conduct principles each year.

The Board of Progress is responsible for the assets and it determines the investment policy. In the autumn of 2011 asset management was transferred to Univest Company. Univest Company is part of Unilever and combines the knowledge of the asset managers who work for Unilever pension funds worldwide. All former Progress investors have also moved to Univest Company, where they form part of an investment department of 20 people. Univest Company also manages the assets of a number of other Unilever pension funds, such as Unilever’s American and UK pension funds.
As Progress remains responsible for the investments, clear arrangements have been made with Univest Company about the execution of the investment policy. Of course Progress closely monitors the execution. To this end Progress employs a Risk Manager and the necessary investment expertise is present in the Board.

Furthermore, Progress seeks regular advice on its investment strategy from the Progress’ Advisory Committee (PAC), which consists of three investment experts, two of whom are independent and one of whom is employed by Unilever.

This section of the website contains information on the composition of our portfolio, our returns on investment, and the manner in which we exercise our right to vote at shareholders' meetings in connection with our equity investments, in compliance with the principles of good corporate governance.