Growth or value, emerging markets look best

Alliance Capital believes that emerging markets offer the best of both worlds.

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 in growth strategies while its unit Bernstein is a value specialist.

Value investors have had a good five years outside of the US, Masters says. Value investors...

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