a) May an ELTIF define a minimum period before which the shares cannot benefit from distributions of the ELTIF?

b) May the setting of a minimum holding period during which investors cannot benefit from the distributions of the ELTIF be considered as a “fee" or a “cost”, as per the requirements of Article 25 of the ELTIF Regulation?

While anti-dilution levies are referred to in Article 5(9) of the ELTIF Delegated Regulation, can the matching price, as referred to in Article 19(2a) of the ELTIF Regulation, of the secondary market include an anti-dilution levy?

Given the requirements set out in Article 17(1)(a) and Article 18(2)(a) of the ELTIF Regulation, as well as in Article 3 of the ELTIF Delegated Regulation, is the minimum holding period, referred to in Article 18(2)(a) of the ELTIF Regulation, (assessed in relation to the launch date of the ELTIF for all investors, or is it applied at each new subscription and on the basis of the date of each capital contribution if there is more than one investment by an individual investor?

Is a daily redemption and daily valuation compatible with the requirements of the ELTIF Regulation and the Commission Delegated Regulation, as referred to, in particular, in Article 5, Annex I and II of the ELTIF Delegated Regulation?

a) What are the criteria to assess the “prudent” nature of the expected cash flows forecasted […] over 12 months, as referred to in Article 5(6) of the ELTIF Delegated Regulation that could be added to the maximum size of redemption at a given redemption date?

b) For private debt ELTIFs, what elements should be taken into account in the abovementioned "expected cash flows"?