Growth or value, emerging markets look best

Global equity markets offer investors different prospects via growth or value strategies depending on the region, but the best of both worlds can be found in emerging markets, says Seth Masters, CIO at Alliance Capital in New York, who oversees how the money manager blends investment styles. "From a value point of view, there are more opportunities outside of the United States," Masters says. But the firm's growth portfolios are overweight America. Alliance Capital specializes i…