Buxton: FTSE will struggle to break through 6,000 'for years'

The head of UK equities and manager of the group's £2.5bn UK Alpha Plus fund said the blue chip index is likely to trade sideways for years as austerity in the UK and the eurozone debt crisis play out. Speaking at the Cofunds Investment Forum this morning, he said: "If you look at very long term historic UK stockmarket returns, the average is 6% per annum. However, this tends to come from a few years of great returns and then 10 or 20 years of sideways trading," he said. "Clearly with the ongoing debt crisis we are going to see subdued growth. I cannot say we are going to see another ...