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From Kirsten Bischoff, Opalesque New York: Dexia has announced a JV partnership with Deniz Portfolio management to launch two funds focused on the Turkish bond and stock markets. The funds will be backed by teams in Brussels and Istanbul. Dexia Bonds Turkey will invest in securities issued by the Turkish government and in TRY denominated Eurobonds issued by international organizations. Dexia Equities L Turkey will utilize fundamental analysis and quantitative screening to invest in Turkish equities.

$109.7bln Dexia Asset Management is looking to the Turkish economy which has grown 122% since 2004 and "a domestic currency which remains strong despite the recent depreciation and an overly tight monetary policy that keeps inflation within the target zone," coupled with the force of the large labor force of its youthful 70million person population (average age is 29) to continue to grow.

The Turkish economy thrust into political balancing act Turkey is a central transit point for various energy sources and as such has found itself thrust into the regional power play which started with Russia's military invasion of Georgia. Over the past weeks the Turkish government finds itself performing a balancing act between Russia and the West. "If the tension between Russia and Georgia turns into an international crisis and the instability in the Caucasus becomes permanent, Turkey will be the most affected by these dev......................

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