# EDGAR Filing Document

**Accession Number:** 0001355064
**File Stem:** 0001580642-26-000452
**Filing Date:** 2026-1
**Character Count:** 32021
**Document Hash:** db04058c32dd79cc780947230eaeacb3
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-000452.hdr.sgml**: 20260127

**ACCESSION NUMBER**: 0001580642-26-000452

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 4

**FILED AS OF DATE**: 20260127

**DATE AS OF CHANGE**: 20260127

**EFFECTIVENESS DATE**: 20260127

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MUTUAL FUND SERIES TRUST
- **CENTRAL INDEX KEY:** 0001355064

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** OH
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** 497
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-132541
- **FILM NUMBER:** 26563474

**BUSINESS ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474
- **BUSINESS PHONE:** 631 549 1859

**MAIL ADDRESS:**
- **STREET 1:** C/O GEMINI FUND SERVICES LLC
- **STREET 2:** 4221 NORTH 203RD STREET, SUITE 100
- **CITY:** ELKHORN
- **STATE:** NE
- **ZIP:** 68022-3474

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CATALYST FUNDS
- **DATE OF NAME CHANGE:** 20060303

## Series and Classes Contracts Data

### Catalyst/SMH High Income Fund (Series ID: S000022377)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Catalyst/SMH High Income Fund Class A | HIIFX         | C000064375 |
| Catalyst/SMH High Income Fund Class C | HIICX         | C000064376 |
| Catalyst/SMH High Income Fund Class I | HIIIX         | C000128969 |

---

### Catalyst/SMH Total Return Income Fund (Series ID: S000022378)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                    | Ticker Symbol | Class ID   |
| Catalyst/SMH Total Return Income Fund Class A | TRIFX         | C000064377 |
| Catalyst/SMH Total Return Income Fund Class C | TRICX         | C000064378 |
| Catalyst/SMH Total Return Income Fund Class I | TRIIX         | C000128970 |

---

### Catalyst Insider Buying Fund (Series ID: S000033417)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Catalyst Insider Buying Fund Class A | INSAX         | C000102754 |
| Catalyst Insider Buying Fund Class C | INSCX         | C000102755 |
| Catalyst Insider Buying Fund Class I | INSIX         | C000142548 |

---

### Catalyst/MAP Global Balanced Fund (Series ID: S000033419)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                | Ticker Symbol | Class ID   |
| Catalyst/MAP Global Balanced Fund Class A | TRXAX         | C000102758 |
| Catalyst/MAP Global Balanced Fund Class C | TRXCX         | C000102759 |
| Catalyst/MAP Global Balanced Fund Class I | TRXIX         | C000142549 |

---

### Catalyst/MAP Global Equity Fund (Series ID: S000033420)

---

|  |  |  |
|:---|:---|:---|
| Class Name                              | Ticker Symbol | Class ID   |
| Catalyst/MAP Global Equity Fund Class A | CAXAX         | C000102760 |
| Catalyst/MAP Global Equity Fund Class C | CAXCX         | C000102761 |
| Catalyst/MAP Global Equity Fund Class I | CAXIX         | C000142550 |

---

### Catalyst Dynamic Alpha Fund (Series ID: S000035242)

---

|  |  |  |
|:---|:---|:---|
| Class Name                          | Ticker Symbol | Class ID   |
| Catalyst Dynamic Alpha Fund Class A | CPEAX         | C000108407 |
| Catalyst Dynamic Alpha Fund Class C | CPECX         | C000108408 |
| Catalyst Dynamic Alpha Fund Class I | CPEIX         | C000142551 |

---

### Catalyst/Lyons Tactical Allocation Fund (Series ID: S000036624)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Catalyst/Lyons Tactical Allocation Fund Class A | CLTAX         | C000111981 |
| Catalyst/Lyons Tactical Allocation Fund Class C | CLTCX         | C000111982 |
| Catalyst/Lyons Tactical Allocation Fund Class I | CLTIX         | C000142553 |

---

### Catalyst Nasdaq-100 Hedged Equity Fund (Series ID: S000036625)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                     | Ticker Symbol | Class ID   |
| Catalyst Nasdaq-100 Hedged Equity Fund Class A | CLPAX         | C000111983 |
| Catalyst Nasdaq-100 Hedged Equity Fund Class C | CLPCX         | C000111984 |
| Catalyst Nasdaq-100 Hedged Equity Fund Class I | CLPFX         | C000142554 |

---

### Catalyst/CIFC Senior Secured Income Fund (Series ID: S000039512)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                         | Ticker Symbol | Class ID   |
| Catalyst/CIFC Senior Secured Income Fund Class A   | CFRAX         | C000121700 |
| Catalyst/CIFC Senior Secured Income Fund Class C   | CFRCX         | C000121701 |
| Catalyst/CIFC Senior Secured Income Fund Class I   | CFRIX         | C000121702 |
| Catalyst/CIFC Senior Secured Income Fund Class C-1 | CFRFX         | C000240463 |

---

### Catalyst Systematic High Income Fund (Series ID: S000041894)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                   | Ticker Symbol | Class ID   |
| Catalyst Systematic High Income Fund Class A | CWXAX         | C000130114 |
| Catalyst Systematic High Income Fund Class C | CWXCX         | C000130115 |
| Catalyst Systematic High Income Fund Class I | CWXIX         | C000130116 |

---

### Catalyst Energy Infrastructure Fund (Series ID: S000045781)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                  | Ticker Symbol | Class ID   |
| Catalyst Energy Infrastructure Fund Class A | MLXAX         | C000142728 |
| Catalyst Energy Infrastructure Fund Class C | MLXCX         | C000142729 |
| Catalyst Energy Infrastructure Fund Class I | MLXIX         | C000142730 |

---

### Catalyst Insider Income Fund (Series ID: S000045921)

---

|  |  |  |
|:---|:---|:---|
| Class Name                           | Ticker Symbol | Class ID   |
| Catalyst Insider Income Fund Class A | IIXAX         | C000143109 |
| Catalyst Insider Income Fund Class C | IIXCX         | C000143110 |
| Catalyst Insider Income Fund Class I | IIXIX         | C000143111 |

---

### Catalyst Systematic Alpha Fund (Series ID: S000045922)

---

|  |  |  |
|:---|:---|:---|
| Class Name                             | Ticker Symbol | Class ID   |
| Catalyst Systematic Alpha Fund Class A | ATRAX         | C000143112 |
| Catalyst Systematic Alpha Fund Class C | ATRCX         | C000143113 |
| Catalyst Systematic Alpha Fund Class I | ATRFX         | C000143114 |

---

### Catalyst/Millburn Hedge Strategy Fund (Series ID: S000052043)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Catalyst/Millburn Hedge Strategy Fund Class A   | MBXAX         | C000163769 |
| Catalyst/Millburn Hedge Strategy Fund Class C   | MBXCX         | C000163770 |
| Catalyst/Millburn Hedge Strategy Fund Class I   | MBXIX         | C000163771 |
| Catalyst/Millburn Hedge Strategy Fund Class C-1 | MBXFX         | C000220411 |

---

### Catalyst Buffered Shield Fund (Series ID: S000058618)

---

|  |  |  |
|:---|:---|:---|
| Class Name                            | Ticker Symbol | Class ID   |
| Catalyst Buffered Shield Fund Class A | SHIEX         | C000192548 |
| Catalyst Buffered Shield Fund Class C | SHINX         | C000192549 |
| Catalyst Buffered Shield Fund Class I | SHIIX         | C000192550 |

---

### Catalyst Enhanced Income Strategy Fund (Series ID: S000063591)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                     | Ticker Symbol | Class ID   |
| Catalyst Enhanced Income Strategy Fund Class I | EIXIX         | C000206024 |
| Catalyst Enhanced Income Strategy Fund Class A | EIXAX         | C000206025 |
| Catalyst Enhanced Income Strategy Fund Class C | EIXCX         | C000206026 |

---

### Catalyst/Aspect Enhanced Multi-Asset Fund (Series ID: S000083234)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                        | Ticker Symbol | Class ID   |
| Catalyst/Aspect Enhanced Multi-Asset Fund Class I | CASIX         | C000246756 |
| Catalyst/Aspect Enhanced Multi-Asset Fund Class A | CASAX         | C000246757 |
| Catalyst/Aspect Enhanced Multi-Asset Fund Class C | CASCX         | C000246758 |

---

### Catalyst/Welton Advantage Multi-Strategy Fund (Series ID: S000085342)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                            | Ticker Symbol | Class ID   |
| Catalyst/Welton Advantage Multi-Strategy Fund Class A | CWEAX         | C000250339 |
| Catalyst/Welton Advantage Multi-Strategy Fund Class C | CWECX         | C000250340 |
| Catalyst/Welton Advantage Multi-Strategy Fund Class I | CWEIX         | C000250341 |

---

## Series and Classes Contracts Data

### Catalyst/SMH High Income Fund (Series ID: S000022377)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000064375 | Catalyst/SMH High Income Fund Class A | HIIFX           |
| C000064376 | Catalyst/SMH High Income Fund Class C | HIICX           |
| C000128969 | Catalyst/SMH High Income Fund Class I | HIIIX           |

### Catalyst/SMH Total Return Income Fund (Series ID: S000022378)

| Class ID   | Class Name                                    | Ticker Symbol   |
|:---|:---|:---|
| C000064377 | Catalyst/SMH Total Return Income Fund Class A | TRIFX           |
| C000064378 | Catalyst/SMH Total Return Income Fund Class C | TRICX           |
| C000128970 | Catalyst/SMH Total Return Income Fund Class I | TRIIX           |

### Catalyst Insider Buying Fund (Series ID: S000033417)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000102754 | Catalyst Insider Buying Fund Class A | INSAX           |
| C000102755 | Catalyst Insider Buying Fund Class C | INSCX           |
| C000142548 | Catalyst Insider Buying Fund Class I | INSIX           |

### Catalyst/MAP Global Balanced Fund (Series ID: S000033419)

| Class ID   | Class Name                                | Ticker Symbol   |
|:---|:---|:---|
| C000102758 | Catalyst/MAP Global Balanced Fund Class A | TRXAX           |
| C000102759 | Catalyst/MAP Global Balanced Fund Class C | TRXCX           |
| C000142549 | Catalyst/MAP Global Balanced Fund Class I | TRXIX           |

### Catalyst/MAP Global Equity Fund (Series ID: S000033420)

| Class ID   | Class Name                              | Ticker Symbol   |
|:---|:---|:---|
| C000102760 | Catalyst/MAP Global Equity Fund Class A | CAXAX           |
| C000102761 | Catalyst/MAP Global Equity Fund Class C | CAXCX           |
| C000142550 | Catalyst/MAP Global Equity Fund Class I | CAXIX           |

### Catalyst Dynamic Alpha Fund (Series ID: S000035242)

| Class ID   | Class Name                          | Ticker Symbol   |
|:---|:---|:---|
| C000108407 | Catalyst Dynamic Alpha Fund Class A | CPEAX           |
| C000108408 | Catalyst Dynamic Alpha Fund Class C | CPECX           |
| C000142551 | Catalyst Dynamic Alpha Fund Class I | CPEIX           |

### Catalyst/Lyons Tactical Allocation Fund (Series ID: S000036624)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000111981 | Catalyst/Lyons Tactical Allocation Fund Class A | CLTAX           |
| C000111982 | Catalyst/Lyons Tactical Allocation Fund Class C | CLTCX           |
| C000142553 | Catalyst/Lyons Tactical Allocation Fund Class I | CLTIX           |

### Catalyst Nasdaq-100 Hedged Equity Fund (Series ID: S000036625)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000111983 | Catalyst Nasdaq-100 Hedged Equity Fund Class A | CLPAX           |
| C000111984 | Catalyst Nasdaq-100 Hedged Equity Fund Class C | CLPCX           |
| C000142554 | Catalyst Nasdaq-100 Hedged Equity Fund Class I | CLPFX           |

### Catalyst/CIFC Senior Secured Income Fund (Series ID: S000039512)

| Class ID   | Class Name                                         | Ticker Symbol   |
|:---|:---|:---|
| C000121700 | Catalyst/CIFC Senior Secured Income Fund Class A   | CFRAX           |
| C000121701 | Catalyst/CIFC Senior Secured Income Fund Class C   | CFRCX           |
| C000121702 | Catalyst/CIFC Senior Secured Income Fund Class I   | CFRIX           |
| C000240463 | Catalyst/CIFC Senior Secured Income Fund Class C-1 | CFRFX           |

### Catalyst Systematic High Income Fund (Series ID: S000041894)

| Class ID   | Class Name                                   | Ticker Symbol   |
|:---|:---|:---|
| C000130114 | Catalyst Systematic High Income Fund Class A | CWXAX           |
| C000130115 | Catalyst Systematic High Income Fund Class C | CWXCX           |
| C000130116 | Catalyst Systematic High Income Fund Class I | CWXIX           |

### Catalyst Energy Infrastructure Fund (Series ID: S000045781)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000142728 | Catalyst Energy Infrastructure Fund Class A | MLXAX           |
| C000142729 | Catalyst Energy Infrastructure Fund Class C | MLXCX           |
| C000142730 | Catalyst Energy Infrastructure Fund Class I | MLXIX           |

### Catalyst Insider Income Fund (Series ID: S000045921)

| Class ID   | Class Name                           | Ticker Symbol   |
|:---|:---|:---|
| C000143109 | Catalyst Insider Income Fund Class A | IIXAX           |
| C000143110 | Catalyst Insider Income Fund Class C | IIXCX           |
| C000143111 | Catalyst Insider Income Fund Class I | IIXIX           |

### Catalyst Systematic Alpha Fund (Series ID: S000045922)

| Class ID   | Class Name                             | Ticker Symbol   |
|:---|:---|:---|
| C000143112 | Catalyst Systematic Alpha Fund Class A | ATRAX           |
| C000143113 | Catalyst Systematic Alpha Fund Class C | ATRCX           |
| C000143114 | Catalyst Systematic Alpha Fund Class I | ATRFX           |

### Catalyst/Millburn Hedge Strategy Fund (Series ID: S000052043)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000163769 | Catalyst/Millburn Hedge Strategy Fund Class A   | MBXAX           |
| C000163770 | Catalyst/Millburn Hedge Strategy Fund Class C   | MBXCX           |
| C000163771 | Catalyst/Millburn Hedge Strategy Fund Class I   | MBXIX           |
| C000220411 | Catalyst/Millburn Hedge Strategy Fund Class C-1 | MBXFX           |

### Catalyst Buffered Shield Fund (Series ID: S000058618)

| Class ID   | Class Name                            | Ticker Symbol   |
|:---|:---|:---|
| C000192548 | Catalyst Buffered Shield Fund Class A | SHIEX           |
| C000192549 | Catalyst Buffered Shield Fund Class C | SHINX           |
| C000192550 | Catalyst Buffered Shield Fund Class I | SHIIX           |

### Catalyst Enhanced Income Strategy Fund (Series ID: S000063591)

| Class ID   | Class Name                                     | Ticker Symbol   |
|:---|:---|:---|
| C000206024 | Catalyst Enhanced Income Strategy Fund Class I | EIXIX           |
| C000206025 | Catalyst Enhanced Income Strategy Fund Class A | EIXAX           |
| C000206026 | Catalyst Enhanced Income Strategy Fund Class C | EIXCX           |

### Catalyst/Aspect Enhanced Multi-Asset Fund (Series ID: S000083234)

| Class ID   | Class Name                                        | Ticker Symbol   |
|:---|:---|:---|
| C000246756 | Catalyst/Aspect Enhanced Multi-Asset Fund Class I | CASIX           |
| C000246757 | Catalyst/Aspect Enhanced Multi-Asset Fund Class A | CASAX           |
| C000246758 | Catalyst/Aspect Enhanced Multi-Asset Fund Class C | CASCX           |

### Catalyst/Welton Advantage Multi-Strategy Fund (Series ID: S000085342)

| Class ID   | Class Name                                            | Ticker Symbol   |
|:---|:---|:---|
| C000250339 | Catalyst/Welton Advantage Multi-Strategy Fund Class A | CWEAX           |
| C000250340 | Catalyst/Welton Advantage Multi-Strategy Fund Class C | CWECX           |
| C000250341 | Catalyst/Welton Advantage Multi-Strategy Fund Class I | CWEIX           |

**MUTUAL FUND SERIES TRUST**

---

| |
|:---|
| &nbsp;&nbsp; **Catalyst Insider Buying Fund**<br> Class A: INSAX Class C: INSCX Class I: INSIX |
| &nbsp;&nbsp; **Catalyst Energy Infrastructure Fund**<br> Class A: MLXAX Class C: MLXCX Class I: MLXIX |
| &nbsp;&nbsp; **Catalyst/MAP Global Equity Fund**<br> Class A: CAXAX Class C: CAXCX Class I: CAXIX |
| &nbsp;&nbsp; **Catalyst/Lyons Tactical Allocation Fund**<br> Class A: CLTAX Class C: CLTCX Class I: CLTIX |
| &nbsp;&nbsp; **Catalyst Dynamic Alpha Fund**<br> Class A: CPEAX Class C: CPECX Class I: CPEIX |

---

**(each, a "Fund" and, collectively, the "Funds")**

**January 27, 2026**

***The information in this Supplement amends certain information contained in the currently effective Prospectus for each Fund dated on or before the date of this Supplement and should be read in conjunction with such Prospectus.***

*The following information replaces the Robert W. Baird & Co. disclosure under the section of the Funds' Prospectus entitled "APPENDIX A: INTERMEDIARY-SPECIFIC SALES CHARGE REDUCTIONS AND WAIVERS":*

**Robert W. Baird & Co. ("Baird")**

Effective January 1, 2026, shareholders purchasing fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the SAI.

**Front-End Sales Charge Waivers on Class A Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased through reinvestment of capital gains distributions
and dividend reinvestment when purchasing shares of the same fund

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased by employees and registered representatives
of Baird or its affiliates and their family members as designated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased within 90 days following a redemption from
a Catalyst Fund, provided (1) the redemption and purchase occur within the purchaser's Baird household and (2) the redeemed shares
were subject to a front-end or deferred sales charge (known as rights of reinstatement)

&nbsp;&nbsp;&nbsp;&nbsp;· A shareholder in the Fund's Class C shares will have
their share converted at net asset value to Class A shares of the same fund if the shares are no longer subject to CDSC and the conversion
is in line with the policies and procedures of Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Employer-sponsored retirement plans or charitable accounts
in a transactional brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and
money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include
SEP IRAs, Simple IRAs or SAR-SEPs

**CDSC Waivers on Class A and C Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold due to death or disability of the shareholder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a systematic withdrawal plan as described in the Fund's Prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares bought due to returns of excess contributions from an IRA Account

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable Internal Revenue Service regulations as described in the Fund's prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold to pay Baird fees but only if the transaction is initiated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares acquired through a right of reinstatement

**Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations**

&nbsp;&nbsp;&nbsp;&nbsp;· Breakpoints as described in this prospectus

&nbsp;&nbsp;&nbsp;&nbsp;· Rights of accumulations which entitles shareholders to breakpoint
discounts will be automatically calculated based on the aggregated holding of Catalyst Funds assets held by accounts within the purchaser's
household at Baird. Eligible Catalyst Funds assets not held at Baird may be included in the rights of accumulations calculation only if
the shareholder notifies his or her financial advisor about such assets

&nbsp;&nbsp;&nbsp;&nbsp;· Letters of Intent (LOI) allow for breakpoint discounts based
on anticipated purchases of Catalyst Funds through Baird, over a 13-month period of time

\* \* \* \* \*

***You should read this Supplement in conjunction with the Prospectus, the Summary Prospectus for your Fund, and the Statement of Additional Information for the Funds, each dated November 1, 2025, as supplemented, which provide information that you should know about the Funds before investing. These documents are available upon request and without charge by calling the Funds toll-free at 1-866-447-4228 or by writing to Catalyst Funds, c/o Ultimus Fund Solutions, LLC, 225 Pictoria Dr, Suite 450, Cincinnati, OH 45246.***

 ****

**Please retain this Supplement for future reference**.

**MUTUAL FUND SERIES TRUST**

---

| |
|:---|
| &nbsp;&nbsp; **Catalyst Systematic Alpha Fund**<br> Class A: ATRAX Class C: ATRCX Class I: ATRFX |
| &nbsp;&nbsp; **Catalyst Systematic High Income Fund**<br> *(formerly, Catalyst/Warrington Strategic Program Fund)*<br> Class A: CWXAX Class C: CWXCX Class I: CWXIX |
| &nbsp;&nbsp; **Catalyst Buffered Shield Fund**<br> Class A: SHIEX Class C: SHINX Class I: SHIIX |
| &nbsp;&nbsp; **Catalyst/Millburn Hedge Strategy Fund**<br> Class A: MBXAX Class C: MBXCX Class C-1: MBXFX Class I: MBXIX |
| &nbsp;&nbsp; **Catalyst Nasdaq-100 Hedged Equity Fund**<br> Class A: CLPAX Class C: CLPCX Class I: CLPFX |
| &nbsp;&nbsp; **Catalyst/Aspect Enhanced Multi-Asset Fund**<br> Class A: CASAX Class C: CASCX Class I: CASIX |
| &nbsp;&nbsp; **Catalyst/Welton Advantage Multi-Strategy Fund**<br> Class A: CWEAX Class C: CWECX Class I: CWEIX |

---

**(each, a "Fund" and, collectively, the "Funds")**

**January 27, 2026**

***The information in this Supplement amends certain information contained in the currently effective Prospectus for each Fund dated on or before the date of this Supplement and should be read in conjunction with such Prospectus.***

*The following information replaces the Robert W. Baird & Co. disclosure under the section of the Funds' Prospectus entitled "APPENDIX A: INTERMEDIARY SPECIFIC SALES CHARGE REDUCTIONS AND WAIVERS":*

**Robert W. Baird & Co. ("Baird")**

Effective January 1, 2026, shareholders purchasing fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this

prospectus or the SAI.

**Front-End Sales Charge Waivers on Class A Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased through reinvestment of capital gains distributions
and dividend reinvestment when purchasing shares of the same fund

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased by employees and registered representatives
of Baird or its affiliates and their family members as designated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased within 90 days following a redemption from
a Catalyst Fund, provided (1) the redemption and purchase occur within the purchaser's Baird household and (2) the redeemed shares
were subject to a front-end or deferred sales charge (known as rights of reinstatement)

&nbsp;&nbsp;&nbsp;&nbsp;· A shareholder in the Fund's Class C shares will have
their share converted at net asset value to Class A shares of the same fund if the shares are no longer subject to CDSC and the conversion
is in line with the policies and procedures of Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Employer-sponsored retirement plans or charitable accounts
in a transactional brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and
money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include
SEP IRAs, Simple IRAs or SAR-SEPs

**CDSC Waivers on Class A and C Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold due to death or disability of the shareholder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a systematic withdrawal plan as described in the Fund's Prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares bought due to returns of excess contributions from an IRA Account

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable Internal Revenue Service regulations as described in the Fund's prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold to pay Baird fees but only if the transaction is initiated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares acquired through a right of reinstatement

**Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations**

&nbsp;&nbsp;&nbsp;&nbsp;· Breakpoints as described in this prospectus

&nbsp;&nbsp;&nbsp;&nbsp;· Rights of accumulations which entitles shareholders to breakpoint
discounts will be automatically calculated based on the aggregated holding of Catalyst Funds assets held by accounts within the purchaser's
household at Baird. Eligible Catalyst Funds assets not held at Baird may be included in the rights of accumulations calculation only if
the shareholder notifies his or her financial advisor about such assets

&nbsp;&nbsp;&nbsp;&nbsp;· Letters of Intent (LOI) allow for breakpoint discounts based
on anticipated purchases of Catalyst Funds through Baird, over a 13-month period of time

\* \* \* \* \*

***You should read this Supplement in conjunction with the Prospectus, the Summary Prospectus for your Fund, and the Statement of Additional Information for the Funds, each dated November 1, 2025, as supplemented, which provide information that you should know about the Funds before investing. These documents are available upon request and without charge by calling the Funds toll-free at 1-866-447-4228 or by writing to Catalyst Funds, c/o Ultimus Fund Solutions, LLC, 225 Pictoria Dr, Suite 450, Cincinnati, OH 45246.***

 ****

 

**Please retain this Supplement for future reference**.

**MUTUAL FUND SERIES TRUST**

---

| |
|:---|
| &nbsp;&nbsp; **Catalyst Insider Income Fund**<br> Class A: IIXAX Class C: IIXCX Class I: IIXIX |
| &nbsp;&nbsp; **Catalyst/SMH High Income Fund**<br> Class A: HIIFX Class C: HIICX Class I: HIIIX |
| &nbsp;&nbsp; **Catalyst/SMH Total Return Income Fund**<br> Class A: TRIFX Class C: TRICX Class I: TRIIX |
| &nbsp;&nbsp; **Catalyst/MAP Global Balanced Fund**<br> Class A: TRXAX Class C: TRXCX Class I: TRXIX |
| &nbsp;&nbsp; **Catalyst/CIFC Senior Secured Income Fund**<br> Class A: CFRAX Class C: CFRCX Class C-1: CFRFX Class I: CFRIX |
| &nbsp;&nbsp; **Catalyst Enhanced Income Strategy Fund**<br> Class A: EIXAX Class C: EIXCX Class I: EIXIX |

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**(each, a "Fund" and, collectively, the "Funds")**

**January 27, 2026**

***The information in this Supplement amends certain information contained in the currently effective Prospectus for each Fund dated on or before the date of this Supplement and should be read in conjunction with such Prospectus.***

*The following information replaces the Robert W. Baird & Co. disclosure under the section of the Funds' Prospectus entitled "APPENDIX A: INTERMEDIARY-SPECIFIC SALES CHARGE REDUCTIONS AND WAIVERS":*

**Robert W. Baird & Co. ("Baird")**

Effective January 1, 2026, shareholders purchasing fund shares through a Baird platform or account will only be eligible for the following sales charge waivers (front-end sales charge waivers and CDSC waivers) and discounts, which may differ from those disclosed elsewhere in this prospectus or the SAI.

**Front-End Sales Charge Waivers on Class A Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased through reinvestment of capital gains distributions
and dividend reinvestment when purchasing shares of the same fund

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased by employees and registered representatives
of Baird or its affiliates and their family members as designated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Shares purchased within 90 days following a redemption from
a Catalyst Fund, provided (1) the redemption and purchase occur within the purchaser's Baird household and (2) the redeemed shares
were subject to a front-end or deferred sales charge (known as rights of reinstatement)

&nbsp;&nbsp;&nbsp;&nbsp;· A shareholder in the Fund's Class C shares will have
their share converted at net asset value to Class A shares of the same fund if the shares are no longer subject to CDSC and the conversion
is in line with the policies and procedures of Baird

&nbsp;&nbsp;&nbsp;&nbsp;· Employer-sponsored retirement plans or charitable accounts
in a transactional brokerage account at Baird, including 401(k) plans, 457 plans, employer-sponsored 403(b) plans, profit sharing and
money purchase pension plans and defined benefit plans. For purposes of this provision, employer-sponsored retirement plans do not include
SEP IRAs, Simple IRAs or SAR-SEPs

**CDSC Waivers on Class A and C Shares Available at Baird**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold due to death or disability of the shareholder

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a systematic withdrawal plan as described in the Fund's Prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares bought due to returns of excess contributions from an IRA Account

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold as part of a required minimum distribution for IRA and retirement accounts due to the shareholder reaching the qualified age based on applicable Internal Revenue Service regulations as described in the Fund's prospectus

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares sold to pay Baird fees but only if the transaction is initiated by Baird

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;· Shares acquired through a right of reinstatement

**Front-End Sales Charge Discounts Available at Baird: Breakpoints and/or Rights of Accumulations**

&nbsp;&nbsp;&nbsp;&nbsp;· Breakpoints as described in this prospectus

&nbsp;&nbsp;&nbsp;&nbsp;· Rights of accumulations which entitles shareholders to breakpoint
discounts will be automatically calculated based on the aggregated holding of Catalyst Funds assets held by accounts within the purchaser's
household at Baird. Eligible Catalyst Funds assets not held at Baird may be included in the rights of accumulations calculation only if
the shareholder notifies his or her financial advisor about such assets

&nbsp;&nbsp;&nbsp;&nbsp;· Letters of Intent (LOI) allow for breakpoint discounts based
on anticipated purchases of Catalyst Funds through Baird, over a 13-month period of time

\* \* \* \* \*

***You should read this Supplement in conjunction with the Prospectus, the Summary Prospectus for your Fund, and the Statement of Additional Information for the Funds, each dated November 1, 2025, as supplemented, which provide information that you should know about the Funds before investing. These documents are available upon request and without charge by calling the Funds toll-free at 1-866-447-4228 or by writing to Catalyst Funds, c/o Ultimus Fund Solutions, LLC, 225 Pictoria Dr, Suite 450, Cincinnati, OH 45246.***

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**Please retain this Supplement for future reference**.