Influence of the growing ETF industry on active investor relations work66 Summary and outlook In summary it can be said that IR will be influ enced by the passive industry However it will not be tomorrow but rather a slow process Most of the influencing factors are not purely driven by the passive industry but would become import ant anyway The degree of the impact is highly dependent on the company so there is no ONE right way to guard against the influence from an IR perspective Rather an individual strategy should be used Despite the influence of the ETF industry IR will not become superfluous Therefore IR cov ers too many different tasks which will continue to be needed regardless of the development of the passive investment industry Since there will always be active investors and other stakeholders IR will continue to act as a communication inter face between the company and the financial com munity

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