<SEC-DOCUMENT>0001829126-21-000712.txt : 20210217
<SEC-HEADER>0001829126-21-000712.hdr.sgml : 20210217
<ACCEPTANCE-DATETIME>20210217153101
ACCESSION NUMBER:		0001829126-21-000712
CONFORMED SUBMISSION TYPE:	497
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20210217
DATE AS OF CHANGE:		20210217
EFFECTIVENESS DATE:		20210217

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			Destra Multi-Alternative 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:		21644421

	BUSINESS ADDRESS:	
		STREET 1:		444 WEST LAKE STREET
		STREET 2:		SUITE 1700
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		877-855-3434

	MAIL ADDRESS:	
		STREET 1:		444 WEST LAKE STREET
		STREET 2:		SUITE 1700
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	Multi-Strategy Growth & Income Fund
		DATE OF NAME CHANGE:	20110614
</SEC-HEADER>
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<TYPE>497
<SEQUENCE>1
<FILENAME>destramultialt_497.htm
<DESCRIPTION>497
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>Destra
Multi-Alternative Fund</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="text-transform: uppercase"><B>&nbsp;</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><FONT STYLE="font-variant: small-caps"><B>February
17, 2021</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Supplement to the </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Prospectus and Statement of Additional Information
(&ldquo;SAI&rdquo;),</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>each dated June 25, 2020, as previously supplemented</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>This supplement provides new and additional
information beyond that contained in the Prospectus and SAI and should be read in conjunction with the Prospectus and SAI</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: justify">On February 11, 2021, Destra Capital Management
LLC (&ldquo;DCM&rdquo;), the parent company of the Fund&rsquo;s current investment adviser, Destra Capital Advisors LLC (&ldquo;Destra&rdquo;),
bought back Continuum Funds Holdings, LLC&rsquo;s control features and equity interests in DCM (the &ldquo;Transaction&rdquo;).
The Transaction resulted in a change of control of Destra. However, as approved by shareholders, Destra and Validus Growth Investors,
LLC will continue to serve as the Fund&rsquo;s investment adviser and investment sub-adviser, respectively.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; text-align: center"><B>Please retain this Supplement with your Prospectus
and SAI for future reference.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 8pt">&nbsp;</P>


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