<SEC-DOCUMENT>0001580642-16-006244.txt : 20160111
<SEC-HEADER>0001580642-16-006244.hdr.sgml : 20160111
<ACCEPTANCE-DATETIME>20160111154350
ACCESSION NUMBER:		0001580642-16-006244
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20160111
DATE AS OF CHANGE:		20160111
EFFECTIVENESS DATE:		20160111

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:		161336408

	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>multistratgi497s.htm
<DESCRIPTION>497
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<TITLE>Blu Giant, LLC</TITLE>
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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 January 11, 2016</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>to the Prospectus 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 second paragraph that appears on page
1 under<B> PROSPECTUS SUMMARY </B>is revised in its entirety to read as follows:</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><B>Investment Objective and Policies.</B>
The Fund&rsquo;s investment objective is to seek returns from capital appreciation and income with an emphasis on income generation.
The Fund pursues its investment objective by investing primarily in the income-producing securities: (1) public and private real
estate investment trusts (&ldquo;REITs&rdquo;), (2) alternative investment funds (&ldquo;AIFs&rdquo;), which include business development
companies (&ldquo;BDCs&rdquo;) as well as funds commonly known as &ldquo;hedge funds,&rdquo; (3) master limited partnerships (&ldquo;MLPs&rdquo;),
(4) common and preferred stocks, (5) structured notes, notes, bonds and asset-backed securities and (6) by writing covered call
options. The Fund also executes investments in the preceding types of securities through index-linked or actively managed exchange-traded
funds (&ldquo;ETFs&rdquo;), mutual funds and closed-end funds (collectively &ldquo;Underlying Funds&rdquo;). The Fund defines AIFs
as BDCs, limited partnerships and limited liability companies that pursue investment strategies linked to real estate, small businesses
or other investments that serve as alternatives to traditional stocks and bonds. In general, the Fund defines an alternative strategy
as one that is different from seeking returns from buying and holding traditional stocks and bonds. The Fund invests in securities
of issuers without restriction as to market capitalization. The majority of the Fund&rsquo;s investments are not publicly traded,
or are traded in over-the-counter markets that have less liquidity than exchange-traded securities. Consequently, the majority
of the Fund&rsquo;s investments are illiquid.</P>

<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">2.&#9;The following paragraph is added to page
5 immediately before the paragraph entitled <B><I>Credit Risk</I></B>:</P>

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

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify"><B><I>Covered Call Option Risk.</I></B><I>
</I>Selling covered call options will limit the Fund&rsquo;s gain, if any, on its underlying securities. The Fund continues to
bear the risk of a decline in the value of its underlying securities. Option premiums are treated as short-term capital gains and
when distributed to shareholders, are usually taxable as ordinary income, which may have a higher tax rate than long-term capital
gains for shareholders holding Fund shares in a taxable account.</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">3.&#9;The first paragraph on page 13 under <B>Investment
Objectives and Policies</B> is revised in its entirety to read as follows:</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0.55pt 0 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; margin: 0 0 0 0.5in; text-align: justify">The Fund&rsquo;s investment objective
is to seek returns from capital appreciation and income with an emphasis on income generation. The Fund pursues its investment
objective by investing primarily in the income-producing securities: (1) public and private real estate investment trusts (&ldquo;REITs&rdquo;),
(2) alternative investment funds (&ldquo;AIFs&rdquo;), which include business development companies (&ldquo;BDCs&rdquo;) and funds
commonly known as &ldquo;hedge funds,&rdquo; (3) master limited partnerships (&ldquo;MLPs&rdquo;), (4)&nbsp;common and preferred
stocks, (5) structured notes, notes, bonds and asset-backed securities and (6) by writing covered call options. The Fund defines
AIFs as BDCs, limited partnerships and limited liability companies that pursue investment strategies linked to real estate, small
businesses or other investments that serve as alternatives to traditional stocks and bonds. The Fund invests in securities of issuers
without restriction as to market capitalization. The majority of the Fund&rsquo;s investments are not publicly traded or are traded
in over-the-counter markets that have less liquidity than exchange-traded securities. Consequently, the majority of the Fund&rsquo;s
investments are illiquid.</P>

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


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<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify">4.&#9;The following paragraph is added to page
20 immediately before the paragraph entitled <B><I>Credit Risk</I></B>:</P>

<P STYLE="font: 10pt Arial, Helvetica, Sans-Serif; text-align: justify; margin-right: 0; margin-left: 0.5in"><B><I>Covered Call
Option Risk</I></B><I>.</I> Selling covered call options will limit the Fund&rsquo;s gain, if any, on its underlying securities.
The Fund continues to bear the risk of a decline in the value of its underlying securities. Option premiums are treated as short-term
capital gains and when distributed to shareholders, are usually taxable as ordinary income, which may have a higher tax rate than
long-term capital gains for shareholders holding Fund shares in a taxable account. Writing call options involves risks different
from, or possibly greater than, the risks associated with investing directly in securities and other traditional investments. These
risks include risk of mispricing or improper valuation and the risk that changes in the value of the call option may not correlate
perfectly with the underlying asset. Derivative prices are highly volatile and may fluctuate substantially during a short period
of time. Such prices are influenced by numerous factors that affect the markets, including, but not limited to: changing supply
and demand relationships; government programs and policies; national and international political and economic events, changes in
interest rates, inflation and deflation and changes in supply and demand relationships. Written call options are subject to liquidity
risk and might be difficult to cover (buy back) or initially sell, possibly preventing the Fund from executing positions at an
advantageous time or price.</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, and the Supplement to the Statement of Additional
Information dated December 16, 2015; each provides 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, as well as any supplements thereto, 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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