(8)When assessing the percentage referred to in Article 18(2), first subparagraph, point (d), of Regulation (EU) 2015/760, competent authorities should take into account, inter alia, the variety of ELTIFs, their liquidity profile, the notice period, if any, and the frequency of redemptions of the ELTIF and expected cash flows in a conservative manner. Competent authorities should therefore only take expected positive cash flows into account to the extent that there is a high degree of certainty that those positive cash flows will materialise. It follows that competent authorities should not consider as expected positive cash flows the possibility that the ELTIF can dispose of eligible long-term investment assets or the possibility that the ELTIF can raise capital through new subscriptions.