Bermuda-based investment company Invesco is set to grow into one of the world's leading investment companies, according to research carried out by William Blair and Co.

Invesco redomiciled on the Island from the UK last year and changed its primary share listing from the London Stock Exchange to the New York Stock Exchange.

Blair analysts D.J. Neiman and Mark Lane predicted Invesco would generate operating earnings per share of $1.80 in 2008 and $2.10 in 2009.

Blair initiated research coverage of Invesco with an outperform rating and core growth company profile.

"We believe Invesco's comprehensive investment capabilities and diversified client base are key differentiators that will drive superior relative growth over the long term," Neiman said.

"In our view, Invesco is still a turnaround story that is well on the path to realising its potential as a leading global investment firm. Since arriving in late 2005, management has effected a number of changes that have better positioned the firm to flourish, in our view.

"We believe continued integration of investment teams and development of the global platform will drive incremental growth by aiding in the investment decision-making process, unifying distribution efforts, and streamlining operations.

"Given its enhanced visibility, broad diversification, and attractive attributes, we view the stock as a lower-risk play on stabilising global equity markets than many US-centric and predominantly retail-oriented peers."

William Blair & Co is a Chicago-based investment firm offering investment banking, asset management, equity research, institutional and private brokerage, and private capital to individual, institutional, and issuing clients.