LEGAL PROCEEDINGS

AlphaCentric Income Opportunities Fund

LEGAL PROCEEDINGS

On July 30, 2020, an investor in the AlphaCentric Income
Opportunities Fund (the "Fund") filed a putative class action in
Florida state court, naming AlphaCentric Advisors LLC, Mutual Fund
Series Trust, and others as defendants.  Plaintiff alleges that the Fund
misrepresented that it held no more than 15% of its assets in illiquid
securities, among other things, and asserts violations of Sections 11,
12(a)(2) and 15 of the Securities Act of 1933.   On October 14,
2020, the same Plaintiff filed a nearly identical putative class action in
New York State Court against the same defendants.  That complaint
was amended on February 26, 2021, which added two additional
defendants, including sub-advisor Garrison Point LLC.  On February
22, 2021, defendants moved to dismiss the Florida action for lack of
personal jurisdiction.  On May 20, 2020, defendants moved to
dismiss the New York action for failure to allege any material
misrepresentations or omissions, among other things. We believe
these lawsuits are meritless and intend to contest them vigorously.

INTERNAL CONTROL RPT

REPORT OF INDEPENDENT REGISTERED PUBLIC
ACCOUNTING FIRM

To the Shareholders of AlphaCentric Income Opportunities
Fund, AlphaCentric Premium Opportunity Fund, AlphaCentric
Robotics and Automation Fund, AlphaCentric Symmetry
Strategy Fund, AlphaCentric LifeSci Healthcare Fund, and
AlphaCentric Strategic Income Fund and Board of Trustees of
Mutual Fund Series Trust

In planning and performing our audit of the financial
statements of AlphaCentric Income Opportunities Fund,
AlphaCentric Premium Opportunity Fund, AlphaCentric
Robotics and Automation Fund, AlphaCentric LifeSci
Healthcare Fund, AlphaCentric Strategic Income Fund and the
consolidated financial statements of AlphaCentric Symmetry
Strategy Fund (the "Funds"), each a series of Mutual Fund
Series Trust, as of and for the year ended March 31, 2024, in
accordance with the standards of the Public Company
Accounting Oversight Board (United States) (PCAOB), we
considered the Funds internal control over financial
reporting, including controls over safeguarding securities, as a
basis for designing our auditing procedures for the purpose of
expressing our opinion on the financial statements and to
comply with the requirements of Form N-CEN, but not for the
purpose of expressing an opinion on the effectiveness of the
Funds internal control over financial reporting.  Accordingly,
we express no such opinion.

The management of the Funds is responsible for establishing
and maintaining effective internal control over financial
reporting.  In fulfilling this responsibility, estimates and
judgments by management are required to assess the
expected benefits and related costs of controls.  A funds
internal control over financial reporting is a process designed
to provide reasonable assurance regarding the reliability of
financial reporting and the preparation of financial
statements for external purposes in accordance with
generally accepted accounting principles (GAAP).  A funds
internal control over financial reporting includes those
policies and procedures that (1) pertain to the maintenance
of records that, in reasonable detail, accurately and fairly
reflect the transactions and dispositions of the assets of the
fund; (2) provide reasonable assurance that transactions are
recorded as necessary to permit preparation of financial
statements in accordance with GAAP, and that receipts and
expenditures of the fund are being made only in accordance
with authorizations of management and trustees of the fund;
and (3) provide reasonable assurance regarding prevention or
timely detection of unauthorized acquisition, use or
disposition of a funds assets that could have a material effect
on the financial statements.

Because of its inherent limitations, internal control over
financial reporting may not prevent or detect misstatements.
Also, projections of any evaluation of effectiveness to future
periods are subject to the risk that controls may become
inadequate because of changes in conditions, or that the
degree of compliance with the policies or procedures may
deteriorate.

A deficiency in internal control over financial reporting exists
when the design or operation of a control does not allow
management or employees, in the normal course of
performing their assigned functions, to prevent or detect
misstatements on a timely basis.  A material weakness is a
deficiency, or combination of deficiencies, in internal control
over financial reporting, such that there is a reasonable
possibility that a material misstatement of the Funds annual
or interim financial statements will not be prevented or
detected on a timely basis.

Our consideration of the Funds internal control over financial
reporting was for the limited purpose described in the first
paragraph and would not necessarily disclose all deficiencies
in internal control that might be material weaknesses under
standards established by the PCAOB.  However, we noted a
deficiency in the Funds internal control over financial
reporting and its operation, including controls over
safeguarding securities, that we consider to be a material
weakness as defined above as of March 31, 2024.

Due to system limitations, the accretion of discount on an
investment in a deeply discounted security had to be tracked
and recorded manually in an offline schedule.  Controls did
not allow for the capture of all the trading activity in the
offline schedule for this security, resulting in a material
adjustment to the recorded accretion.  We believe this
represents a material weakness in internal control over
financial reporting.

This report is intended solely for the information and use of
management and the Board of Trustees of the Funds and the
Securities and Exchange Commission and is not intended to
be and should not be used by anyone other than these
specified parties.

/s/ COHEN & COMPANY, LTD.
Philadelphia, Pennsylvania
May 30, 2024