https://www.sec.gov/Archives/edgar/data/1355064/000158064220001192/catalyst497.htm497 1 catalyst497.htm 497
Catalyst MLP & Infrastructure Fund
(the “Fund”)
CLASS A: MLXAX CLASS C: MLXCX CLASS I: MLXIX
March 13, 2020
The information in this Supplement provides new information beyond that contained in the currently effective Prospectus, Summary Prospectus and Statement of Additional Information (“SAI”) for the Fund, dated November 1, 2019, as supplemented January 24, 2020. It should be retained and read in conjunction with that Prospectus, Summary Prospectus and SAI.
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REVERSE SHARE SPLIT
On March 25, 2020, the Fund will implement a 5:1 reverse share split (“Reverse-Split”) of the issued and outstanding Class A, Class C and Class I shares of the Fund. As a result, although the value of the shares you own will not change, the number of shares you own will decrease. For example, if you currently own 5 shares of the Fund, after the completion of the Reverse-Split, you will own 1 share of the Fund. Shareholders of record at the close of business on March 25, 2020, will participate in the Reverse-Split, and the adjusted net asset value of your shares will be calculated as of that date. The Fund will complete the Reverse-Split after the close of the securities markets on March 25, 2020.
Shares of the Fund will be offered, sold, and redeemed on a Reverse-Split-adjusted basis beginning March 25, 2020. The total dollar value of your investment in the Fund will not change. The Reverse-Split is not anticipated to be a taxable event, nor will it have an impact on the Fund’s holdings or its performance. Because the Fund pays distributions on a per share basis and the number of shares of each Class will be reduced, the dollar amount of the distributions will not change as a result of the Reverse-Split, but dividends or other distributions will be adjusted in the same proportion...
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