Schroders and BlackRock are thought to be the frontrunners to take charge of Neil Woodford's Income Focus fund.
The £253m fund is the last of Woodford's funds to be taken over, as the once star manager winds up shop, with Schroders and BlackRock already taking over the other two products.
Schroders won the mandate for the Woodford Patient Capital Trust, while BlackRock oversee the more liquid side of the Woodford Equity Income fund.
According to sources quoted by The Telegraph, the two firms are now the most likely to take over the one remaining fund, to avoid it being wound up.
The Income Focus fund has been suspended since the day following Woodford ACD Link's announcement the Neil Woodford has been sacked as manager of the products.
As recently as a week ago, Link had sent a letter to investors saying it had been "considering various options" and was "considering indications of interest from several investment managers".
This article was first published by InvestmentWeek, a sister title to International Investment.