# EDGAR Filing Document

**Accession Number:** 0001355064
**File Stem:** 0001580642-23-001359
**Filing Date:** 2023-3
**Character Count:** 12321
**Document Hash:** 211e7661abc80a15c06b8ef11c7e65d7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-23-001359.hdr.sgml**: 20230309

**ACCESSION NUMBER**: 0001580642-23-001359

**CONFORMED SUBMISSION TYPE**: 497

**PUBLIC DOCUMENT COUNT**: 15

**FILED AS OF DATE**: 20230309

**DATE AS OF CHANGE**: 20230309

**EFFECTIVENESS DATE**: 20230309

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MUTUAL FUND SERIES TRUST
- **CENTRAL INDEX KEY:** 0001355064
- **IRS NUMBER:** 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:** 23719294

**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 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 Income and Multi-Strategy Fund (Series ID: S000050218)

---

|  |  |  |
|:---|:---|:---|
| Class Name                                      | Ticker Symbol | Class ID   |
| Catalyst Income and Multi-Strategy Fund Class A | ACXAX         | C000158513 |
| Catalyst Income and Multi-Strategy Fund Class C | ACXCX         | C000158514 |
| Catalyst Income and Multi-Strategy Fund Class I | ACXIX         | C000158515 |

---

## Series and Classes Contracts Data

### 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 Income and Multi-Strategy Fund (Series ID: S000050218)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000158513 | Catalyst Income and Multi-Strategy Fund Class A | ACXAX           |
| C000158514 | Catalyst Income and Multi-Strategy Fund Class C | ACXCX           |
| C000158515 | Catalyst Income and Multi-Strategy Fund Class I | ACXIX           |

?xml version="1.0" encoding="utf-8"?

![(LOGO)](cf001_v1.jpg)

**MUTUAL FUND SERIES TRUST**

---

| |
|:---|
| &nbsp;&nbsp;**Catalyst Systematic Alpha Fund**<br> Class A: ATRAX Class C: ATRCX Class I: ATRFX<br>|
| &nbsp;&nbsp;**Catalyst Income and Multi-Strategy Fund**<br> Class A: ACXAX Class C: ACXCX Class I: ACXIX<br>|

---

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

**March 9, 2023**

***The information in this Supplement amends certain information contained in the currently effective Prospectus for the Funds, dated November 1, 2022****.*

 

*The following information is added to the section of the Fund's Prospectus entitled "Fund Summary: Catalyst Income and Multi-Strategy Fund - Principal Investment Strategies":* 

The Fund's distribution policy is to make twelve monthly distributions to shareholders. The level of monthly distributions (including any return of capital) may be fixed at such amounts as determined by management of the Fund from time to time and will typically generate distributions that equal a fixed amount per share or a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Shareholders should not assume that the source of a distribution from the Fund is net profit. For more information about the Fund's distribution policy, please turn to "Additional Information About the Fund's Principal Investment Strategies and Related Risks – Principal Investment Strategies – Catalyst Income and Multi-Strategy Fund - Distribution Policy and Goals" section in the Fund's Prospectus.

 

*The following information is added to the section of the Fund's Prospectus entitled "Fund Summary: Catalyst Income and Multi-Strategy Fund - Principal Risks of Investing in the Fund":*

 

**Distribution Policy Risk***.* The Fund's distribution policy will typically generate distributions that equal a fixed percentage of the Fund's current net asset value per share. *Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital (i.e., from your original investment). Shareholders should not assume that the source of a distribution from the Fund is net profit.* Shareholders should note that return

of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.

 

*The following information is added to the section of the Fund's Prospectus entitled "Additional Information About the Fund's Principal Investment Strategies and Related Risks – Principal Investment Strategies – Catalyst Income and Multi-Strategy Fund":*

 

*Distribution Policy and Goals:* 

The Fund's distribution policy is to make monthly distributions to shareholders. All income will be distributed monthly regardless of whether such income will be treated as return of capital.

The Fund generally distributes to shareholders substantially all of its net income (for example, interest and dividends) monthly as well as substantially all of its net capital gains (that is, long-term capital gains from the sale of portfolio securities and short-term capital gains from both the sale of portfolio securities and option premium earned) annually. In addition, pursuant to its distribution policy, the Fund may make distributions that are treated as a return of capital. Return of capital is the portion of a distribution that is the return of your original investment dollars in the Fund. A return of capital is not taxable to a shareholder unless it exceeds a shareholder's tax basis in the shares.

Returns of capital reduce a shareholder's tax cost (or "tax basis"). Once a shareholder's tax basis is reduced to zero, any further return of capital would be taxable. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital (i.e. from your original investment). Shareholders should not assume that the source of a distribution from the Fund is net profit. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. As required under the 1940 Act, the Fund will provide a notice to shareholders at the time of distribution when such distribution does not consist solely of net income. Additionally, each distribution payment will be accompanied by a written statement which discloses the estimated source or sources of each distribution. The IRS requires you to report these amounts, excluding returns of capital, on your income tax return for the year declared. The Fund will provide disclosures, with each monthly distribution, that estimate the percentages of the current and year-to-date distributions that represent (1) net investment income, (2) capital gains and (3) return of capital. At the end of the year, the Fund may be required under applicable law to re-characterize distributions made previously during that year among (1) ordinary income, (2) capital gains and (3) return of capital for tax purposes. An additional distribution may be made in December, and other additional distributions may be made with respect to a particular fiscal year in order to comply with applicable law. Distributions declared in December, if paid to shareholders by the end of January, are treated for federal income tax purposes as if received in December.

*The following information is added to the section of the Fund's Prospectus entitled "Additional Information About the Fund's Principal Investment Strategies and Related Risks – Principal Investment Risks":*

*Distribution Policy Risk (Catalyst Income and Multi-Strategy Fund Only) –*The Fund's distribution policy will typically generate distributions that equal a fixed amount per share or a fixed percentage of the Fund's current net asset value per share. Shareholders receiving periodic payments from the Fund may be under the impression that they are receiving net profits. However, all or a portion of a distribution may consist of a return of capital. Return of capital is the portion of distribution that is a return of your original investment dollars in the Fund. Shareholders should not assume that the source of a distribution from the Fund is net profit. *Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares.* The Fund will provide disclosures, with each monthly distribution, that estimate the percentages of the current and year-to-date distributions that represent (1) net investment income, (2) capital gains and (3) return of capital. At the end of the year, the Fund may be required under applicable law to re-characterize distributions made previously during that year among (1) ordinary income, (2) capital gains and (3) return of capital for tax purposes.

*The following information replaces the first paragraph under the section of the Funds' Prospectus entitled "Dividends, Distributions and Taxes – Dividend and Distributions":*

Each Fund typically distributes substantially all of its net investment income in the form of dividends and taxable capital gains to its shareholders. These distributions are automatically reinvested in the applicable Fund unless you request cash distributions on your application or through a written request to the Fund. Each Fund expects that its distributions will consist of both capital gains and dividend income. The Catalyst/Warrington Strategic Program Fund, Catalyst Buffered Shield Fund, Catalyst/Millburn Dynamic Commodity Strategy Fund, Catalyst/Millburn Hedge Strategy Fund and the Catalyst Nasdaq-100 Hedged Equity Fund intend to make annual dividend distributions. The Catalyst Systematic Alpha Fund and Catalyst Income and Multi-Strategy Fund intend to make monthly dividend distributions. Each Fund may make distributions of its net realized capital gains (after any reductions for capital loss carry forwards) annually.

*The following information is added to the section of the Funds' Prospectus entitled "Dividends, Distributions and Taxes – Dividend and Distributions":*

Please refer to the sections entitled "Additional Information About the Funds' Principal Investment Strategies and Related Risks – Principal Investment Strategies –Catalyst Income and Multi-Strategy Fund - Distribution Policy and Goals" and "Additional Information About the Funds' Principal Investment Strategies and Related Risks – Principal Investment Risks" for a detailed description of the Catalyst Income and Multi-Strategy Fund's distribution policy and tax consequences.

\* \* \* \* \*

***You should read this Supplement in conjunction with the Prospectus, Summary Prospectus and Statement of Additional Information for the Funds, each dated November 1, 2022, 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 4221 North 203<sup>rd</sup> Street, Suite 100, Elkhorn, Nebraska 68022.***

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