The trustee of the National Property Trust says it is working with the trust's managers to arrange a meeting for investors to vote on its future.
The trust's $191 million portfolio is managed by one of two subsidiaries of the St Laurence group, that were spared from receivership earlier this month.
But a group representing 10% of investors, is pushing to get the managers sacked, because of what it says is poor performance and expensive fees.
The group needs 75% of unit holders to vote in support of the move for it to succeed.
In a letter sent to unit holders late last week, National Property Trust trustee, Guardian Trust, said it has no say in changing the manager, other than ensuring it continues to comply with the trust deed.
It says it has received confirmation from the manager that it has the resources it needs to carry out its duties, but they are working together to make sure a meeting of unit holders is arranged.
