<SEC-DOCUMENT>0001580642-18-000499.txt : 20180129
<SEC-HEADER>0001580642-18-000499.hdr.sgml : 20180129
<ACCEPTANCE-DATETIME>20180129171143
ACCESSION NUMBER:		0001580642-18-000499
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20180129
DATE AS OF CHANGE:		20180129
EFFECTIVENESS DATE:		20180129

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:		18556645

	BUSINESS ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
		BUSINESS PHONE:		631-470-2600

	MAIL ADDRESS:	
		STREET 1:		80 ARKAY DRIVE
		CITY:			HAUPPAUGE
		STATE:			NY
		ZIP:			11788
</SEC-HEADER>
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<TYPE>497
<SEQUENCE>1
<FILENAME>msgi497.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 January 29, 2018</B></P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: center"><B>to the Statement of Additional Information
dated July 1, 2017, and supplemented August 4, 2017, August 17, 2017, and December 22, 2017.</B></P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0; border-bottom: 1pt black solid">&nbsp;</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; text-indent: 0.5in">The following disclosure
is added to the section <B>Other Investment Policies and Techniques</B> to be read immediately following <B>Money Market Instruments</B>
and immediately preceding <B>Private Funds (Hedge Funds)</B>. Capitalized terms used but not defined in this Supplement have the
meanings given to them in the Prospectus and Statement of Additional Information:</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0.5in 0 0">&nbsp;</P>

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

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">The Fund may sell securities
short. A short sale is a transaction in which the Fund sells a security it does not own or have the right to acquire (or that it
owns but does not wish to deliver) in anticipation that the market price of that security will decline.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 48.2pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">When the Fund makes a short
sale, the broker-dealer through which the short sale is made must borrow the security sold short and deliver it to the party purchasing
the security. The Fund is required to make a margin deposit in connection with such short sales; the Fund may have to pay a fee
to borrow particular securities and will often be obligated to pay over any dividends and accrued interest on borrowed securities.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 48.2pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">If the price of the security
sold short increases between the time of the short sale and the time the Fund covers its short position, the Fund will incur a
loss; conversely, if the price declines, the Fund will realize a capital gain. Any gain will be decreased, and any loss increased,
by the transaction costs described above. The successful use of short selling may be adversely affected by imperfect correlation
between movements in the price of the security sold short and the securities being hedged.</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 48.2pt">&nbsp;</P>

<P STYLE="font: 12pt Arial, Helvetica, Sans-Serif; margin: 0; text-align: justify; text-indent: 0.5in">To the extent the Fund sells
securities short, it will provide collateral to the broker-dealer and (except in the case of short sales &quot;against the box&quot;)
will maintain additional asset coverage in the form of cash, U.S. government securities or other liquid securities with its custodian
in a segregated account in an amount at least equal to the difference between the current market value of the securities sold short
and any amounts required to be deposited as collateral with the selling broker (not including the proceeds of the short sale).
The Fund does not intend to enter into short sales (other than short sales &quot;against the box&quot;) if immediately after such
sales the aggregate of the value of all collateral plus the amount in such segregated account exceeds 50% of the value of the Fund's
net assets. This percentage may be varied by action of the Board of Trustees. A short sale is &quot;against the box&quot; to the
extent the Fund contemporaneously owns, or has the right to obtain at no added cost, securities identical to those sold short.</P>

<P STYLE="font: 11pt Arial, Helvetica, Sans-Serif; margin: 0 0.5in 0 0">&nbsp;</P>

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

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


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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</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, 2017 and supplemented August 4, 2017, August 17,
2017, and December 22, 2017, 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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