1.   No later than 9 June 2019, the Commission shall start a review of the application of this Regulation. The review shall analyse, in particular:

(a)	the impact of Article 18;

(b)	the impact on asset diversification of the application of the minimum threshold of 70 % of eligible investment assets laid down in Article 13(1);

(c)	the extent to which ELTIFs are marketed in the Union, including whether AIFMs falling under Article 3(2) of Directive 2011/61/EU might have an interest in marketing ELTIFs;

(d)	the extent to which the list of eligible assets and investments should be updated, as well as the diversification rules, portfolio composition and limits regarding the borrowing of cash.

2.   Following the review referred to in paragraph 1 of this Article, and after consulting ESMA, the Commission shall submit to the European Parliament and to the Council a report assessing the contribution of this Regulation and of ELTIFs to the completion of the Capital Markets Union and to the achievement of the objectives set out in Article 1(2). The report shall be accompanied, where appropriate, by a legislative proposal.