<SEC-DOCUMENT>0001580642-15-005839.txt : 20151216
<SEC-HEADER>0001580642-15-005839.hdr.sgml : 20151216
<ACCEPTANCE-DATETIME>20151216121916
ACCESSION NUMBER:		0001580642-15-005839
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20151216
DATE AS OF CHANGE:		20151216
EFFECTIVENESS DATE:		20151216

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Multi-Strategy Growth & Income Fund
		CENTRAL INDEX KEY:			0001523289
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			DE

	FILING VALUES:
		FORM TYPE:		497
		SEC ACT:		1933 Act
		SEC FILE NUMBER:	333-189008
		FILM NUMBER:		151290392

	BUSINESS ADDRESS:	
		STREET 1:		450 WIRELESS BLVD.
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
		BUSINESS PHONE:		631-470-2600

	MAIL ADDRESS:	
		STREET 1:		450 WIRELESS BLVD.
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
</SEC-HEADER>
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<TYPE>497
<SEQUENCE>1
<FILENAME>msgipro497.htm
<DESCRIPTION>497
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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; text-align: center; margin-right: 0; margin-left: 0"><B>MULTI-STRATEGY GROWTH
&amp; INCOME FUND </B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>Supplement dated December 16, 2015</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>to the Prospectus&nbsp;dated July 1, 2015</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B>____________________________________________________________________________</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">1.&#9;The paragraph that appears on page 20
under <B>Trustees and Officers</B> is revised in its entirety to read as follows:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">The Board of Trustees is responsible for the
overall management of the Fund, including supervision of the duties performed by the Adviser. The Board is comprised of five trustees.
The Trustees are responsible for the Fund's overall management, including adopting the investment and other policies of the Fund,
electing and replacing officers and selecting and supervising the Fund's investment adviser. The name and business address of the
Trustees and officers of the Fund and their principal occupations and other affiliations during the past five years, as well as
a description of committees of the Board, are set forth under &quot;Management&quot; in the Statement of Additional Information.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">2.&#9;The disclosure that appears on page 32
under<B> Class L Shares </B>is revised in its entirety to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.95pt 0 0"><B>Class L Shares</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.35pt 0 0; text-align: justify; text-indent: 0in">Class L shares are
sold at the prevailing net asset value per Class L share plus a sales load of 3.75% based on the amount of their investment; however,
the following are additional features that should be taken into account when purchasing Class L shares:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 12.15pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a minimum initial investment of $2,500 for
regular accounts and $1,000 for retirement plan accounts, and a minimum subsequent investment of $100 for regular accounts and
$50 for retirement plan accounts; </FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.45pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a monthly shareholder servicing fee at an
annual rate of up to 0.25% of the average daily net assets of the Fund attributable to Class L shares; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.45pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a Distribution Fee which will accrue at an
annual rate equal to 0.50% of the average daily net assets of the Fund attributable to Class L shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.35pt 0 0; text-align: justify; text-indent: 0in">Investors in Class
L shares will pay a sales load of 3.75% based on the amount of their investment. A reallowance will be made by the Distributor
from the sales load paid by each investor. There are no sales loads on reinvested distributions. The Fund reserves the right to
waive sales loads. The following sales loads apply to your purchases of Class L shares of the Fund:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR>
    <TD STYLE="vertical-align: top; width: 32%; border: black 1pt solid; font-size: 12pt"><FONT STYLE="font-family: Arial, Helvetica, Sans-Serif">&nbsp;</FONT></TD>
    <TD STYLE="vertical-align: top; width: 22%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Sales Charge as a % </FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">of Offering Price</FONT></TD>
    <TD STYLE="vertical-align: top; width: 23%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Sales Charge as a % </FONT><BR>
<FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">of Amount Invested</FONT></TD>
    <TD STYLE="vertical-align: bottom; width: 23%; border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 13.15pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Dealer Reallowance</FONT></TD></TR>
<TR>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-top: 1.65pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">Amount Invested</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3.75%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3.90%</FONT></TD>
    <TD STYLE="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-top: 1.65pt; text-align: center"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">3.00%</FONT></TD></TR>
</TABLE>
<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0 0 11pt">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.35pt 0 0; text-align: justify; text-indent: 0in">You may be able
to buy Class L shares without a sales charge (i.e. &quot;load-waived&quot;) when you are:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.7pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">reinvesting distributions;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.65pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">participating in an investment advisory or
agency commission program under which you pay a fee to an investment advisor or other firm for portfolio management or brokerage
services;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.45pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">exchanging an investment in Class L (or equivalent
type) shares of another fund for an investment in the Fund;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.7pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">purchasing shares through the Fund's Adviser;
or</FONT></TD></TR></TABLE>


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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.7pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">purchasing shares through a financial services
firm (such as a broker-dealer, investment adviser or financial institution) that has a special arrangement with the Fund.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">3.&#9;The disclosure that appears on page 32
under <B>Class C Shares</B> is revised in its entirety to read as follows:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 11.35pt 0 0; text-align: justify; text-indent: 0in">Class C shares are
sold at the prevailing NAV per Class C share and are not subject to any upfront sales charge; however, the following are additional
features that should be taken into account when purchasing Class C shares:</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.65pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a minimum initial investment of $2,500 for
regular accounts and $1,000 for retirement plan accounts, and a minimum subsequent investment of at least $100 for regular accounts
and $50 for retirement plan accounts;</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.65pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a monthly shareholder servicing fee at an
annual rate of up to 0.25% of the average daily net assets of the Fund attributable to Class C shares; and</FONT></TD></TR></TABLE>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 12pt Times New Roman, Times, Serif; margin-top: 6.95pt; margin-bottom: 0"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0.25in"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font: 10pt Symbol">&#183;</FONT></TD><TD STYLE="text-align: justify"><FONT STYLE="font: 10pt Arial, Helvetica, Sans-Serif">a Distribution Fee which will accrue at an
annual rate equal to 0.75% of the average daily net assets of the Fund attributable to Class C shares.</FONT></TD></TR></TABLE>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">Because the Class C shares of the Fund are sold
at the prevailing NAV per Class C share without an upfront sales load, the entire amount of your purchase is invested immediately.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>* * * * * *</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify"><B>You should read this Supplement in conjunction
with the Prospectus and Statement of Additional Information each dated July 1, 2015, which provide information that you should
know about the Fund before investing. These documents are available upon request and without charge by calling the Fund toll-free
at 1-855-601-3841. The Prospectus and Statement of Additional Information may be obtained by visiting the U.S. Securities and Exchange
Commission&rsquo;s website at http://www.sec.gov. You should retain this Supplement for future reference.</B></P>


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