Top global investment management company Invesco could be set to relocate its almost $500 billion business to Bermuda.

At its Extraordinary General Meeting in November to decide whether to move its primary share listing from the London Stock Exchange to the New York Stock Exchange, the company will also seek shareholder approval to redomicle to the Island.

It believes transferring to Bermuda would allow it to operate in a well-established jurisdiction for companies trading on the US stock exchanges, including those within the Standard & Poor's 500, as well as giving them the chance to maximise shareholder value.

Additionally, Invesco, which oversees about $492bn and offers mutual funds, institutional accounts, exchange-traded and private-equity funds, claims a Bermuda domicile would afford them the opportunity to maintain legal, regulatory capital and financial positions in line with its current policies, but, as a result of these proposals, it does not expect any material change to its effective corporate tax rate.

The move came about following the announcement of the recent loss of the company's foreign private issuer status in the US in July and the board of directors' proposal to change markets will be put to the vote among shareholders.

Due to losing its status, the company became subject to the full requirements of two primary securities regulators, the Securities and Exchange Commission and the Financial Services Authority in the UK, and to two different accounting standards, US GAAP and IFRS, with both requirements potentially producing conflict which may in turn impede full compliance with either primary regulator and cause confusion for shareholders.

"Having our primary stock listing on the New York Stock Exchange is the most practical way to once again place Invesco under supervision of a single primary regulator and minimise the possible disruption associated with dual regulatory and accounting standards," said Martin Flanagan, president and CEO of Invesco.

"Additionally, Invesco's size, scale and global focus results in a few natural peers on the London Stock Exchange.

"A US listing will improve visibility and direct comparability with a more appropriate peer group of large, global investment management companies."

Meanwhile, Invesco, whose executives are headquartered in Atlanta, is still encouraging UK stock ownership and investment and, subject to approval of the proposal, intends to set up a second listing on the London Stock Exchange next year.

The reorganisation, should it be given the go ahead, will be effected through a UK court-sanctioned scheme of arrangement and is subject to other court and regulatory approvals, including from the FSA.

The company changed its name in May from Amvescap Plc. in a bid to improve its image as it rebounds from a trading scandal and subpar returns that led to investor withdrawals.

Invesco, which opened in 1978 with $400 million in assets, combined with Aim Investments Group in 1997 to form Amvescap.