On 21 December, 2017, the German Federal Financial Supervisory Authority ("BaFin") published a guidance paper setting forth the BaFin's view with regard to the assignment of responsibilities of the AIF and the AIFM. Following a public consultation in early 2017, the BaFin has now clarified which duties and responsibilities will be undertaken by the AIFM, which remain with the AIF and which can be delegated in the name and on behalf of the AIF.