Investment Objective/Strategy -
The First Trust Multi-Strategy Fund (the "Fund") seeks long-term capital appreciation by pursuing positive absolute returns across market cycles. In pursuing its objective,
the Fund seeks to generate attractive long-term returns with low sensitivity to traditional equity and fixed-income indices. The Fund allocates its assets among a carefully chosen group of alternative investment strategies
operated by portfolio managers with deep backgrounds in their respective disciplines. These strategies
may include, without limitation, relative value, arbitrage, and asset-backed fixed income that invest in
different asset classes, securities, and derivative instruments. This mix of strategies seeks to generate an
uncorrelated return stream using fundamentally and technically driven approaches.
There can be no assurance that the Fund's investment objectives will be achieved. The Fund may not be appropriate for all investors.