(4)The minimum holding period, if any, referred to in Article 18(2), first subparagraph, point (a), of Regulation (EU) 2015/760 typically can enable the ELTIF to complete the investment of its capital contributions. It follows that the minimum holding period, if any, should allow the ELTIF to achieve that aim. However, Regulation (EU) 2015/760 does not specify the length of the minimum holding periods, nor the requirement thereof, and requires that the manager of an ELTIF determines the minimum holding period based on a set of certain criteria. Therefore, in determining that minimum holding period, the manager of the ELTIF should consider the circumstances of the ELTIF.