Influence of the growing ETF industry on active investor relations work64 Summary and outlook 5 Summary and outlook In the last part of the thesis a summary is given in which the research questions asked at the beginning are finally answered followed by a short outlook for IR Will IR be influenced by the increasing passive investment industry Yes the growing influence of the passive sector will not pass by IR without leaving a trace How ever a rapid turnaround of the IR department is unlikely to happen it will be rather a gradual process Just as the trend of passive investments did not suddenly appear overnight but has devel oped slowly over the last twenty years IR will also undergo a slow transformation Nevertheless this transformation would to some extent come naturally anyway While the capital market has changed and developed rapidly in recent years IR has not really changed over the last twenty years so a development is long overdue Which task areas will be mostly impacted It is expected that the majority of IR activities will remain stable at least in the next few years Most of the parts that will be changing are not solely changing because of the passive investment indus try but would be undergoing a change anyway For example ESG and with it the trend towards better ESG principles is becoming a new influencing factor for investment decisions In relation to ESG new tasks will arise as a result and regulatory changes will occur which must be constantly readjusted in the future Already existing IR activities will be further developing It would also be conceivable that there will be a position like a dedicated digital marketing IR manager in addition to a dedicated ESG IR manager who is mainly responsible for the IR website and social media Expert interview 3 2021 see annex 3 Increasing the presence in social media will become an inevitable goal for IR departments Possible would also be a database analyst in the IR team whose main focus is on data preparation and presentation in data bases Many activities regarding the passive investment industry should be done anyway by IR For exam ple it should be a goal of IR to be as ESG com pliant as possible regardless of the development of the passive sector In addition targets such as achieving good ESG rankings or having a clear and structured database on Bloomberg or Ref initiv are further examples for IR activities that should be done not only because of the passive sector but in general Expert interview 2 2021 see annex 3 Thereby one does not have to exclude the other on the contrary a combination of the two approaches is possible in many areas of IR activ ities In the case of ESG for example both an active and a passive approach can be used at the same time The research on what the criteria of ETF providers for specific ETF products are could be counted as an activity regarding the passive investment industry An active element could be that IR actively promotes the implementation of those criteria within the company This activity then automatically leads to getting into certain indices and on the radar screen of thematic ETFs This example shows that the two approaches go hand in hand and are connected Even though the majority of IR activities will remain relatively stable for the time being there are a few areas where the influence will be most noticeable As already explained in detail in chap ters 4 2 and 4 3 the areas of maintaining contact to investors targeting of passive and active inves tors as well as corporate governance will be the main areas to change How can IR prepare itself for this impact There is no ultimate sample solution on how IR can best prepare for this impact There are several possible courses of action which depending on the company s structure and overall strategy can be considered as a course of action to a greater or

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