"The presence of a developed investment fund market in the country will increase the demand for investment products and services, contributing to economic growth and the development of financial markets," said Natia Turnava, Acting Governor of the National Bank of Georgia, during her speech at the official opening of the first authorized investment fund in Georgia.

Turnava highlighted the importance of close cooperation with international financial institutions, government agencies, and the private sector to activate the investment fund sector. She noted that confidence in the GEL is growing in the country due to the efforts of the private sector and the National Bank of Georgia, with the opening of the new fund serving as proof of this confidence in the national currency. The Acting Governor   emphasized the NBG's role in developing and refining the regulatory framework for investment funds.

"We are actively working on market development initiatives. We hope to lay the foundation for the future development of the investment fund sector in Georgia through close cooperation with the private sector," Turnava said.

The "Forsyth Lari Money Market Fund" is a new type of financial product, further expanding the range of financial products available to society and the business sector.

It is important to note that the supervision of investment funds and asset management companies in Georgia is carried out by the National Bank of Georgia. Currently, only three asset management companies are licensed: TBC Asset Management (a member of the TBC Group), BOG Asset Management (a member of the Bank of Georgia Group), and Forsyth Investment Group (the manager of the Forsyth Lari Money Market Fund, which is an independent asset management company). Additionally, 14 investment funds are registered, and one investment fund is authorized. According to Georgian legislation, only an authorized investment fund can carry out a public offering.

Ekaterine Mikabadze, Vice Governor of the National Bank of Georgia, participated in the panel discussion "Importance of Investment Funds in Terms of Economic Development of the Country" held within the event.

"The Forsyth Lari Money Market Fund is the first authorized investment fund in Georgia, representing an important innovation and new tool for retail investors. This is a new opportunity for the market to place savings and invest, which also positively impacts the economy. The NBG monitors investment funds, and the fund opened today will also be under our supervision," Mikabadze said.

In recent years, several important legislative changes have been made to develop the capital market, involving international financial institutions, government agencies, and the private sector. These changes have contributed to the establishment of new types of financial institutions and instruments in the local market.