Emerging markets remain flavour of '17

EM funds received $55-bn inflows in Jan-March 2017, compared to the $44.1-bn inflow through 2016

A few years ago, most Indian investors would have, at best, associated France with Shammi Kapoor dangling from a helicopter and serenading Sharmila Tagore as she surfed on the Riviera. Last Monday, however, Indian investors bought quantities of shares in the hopes of a favourable outcome in the French presidential elections.

The second round of French elections on May 7 is a straight contest for Emmanuel Macron versus Marine Le Pen. Monsieur Macron, a centrist banker who is pro-EU, leads the opinion polls. But there’s need for caution in calling the outcome, given very high stakes. Madame Le Pen wants