Filed pursuant to Rule 497(e)
File Nos. 333-148624 and 811-22167
ALLIANZ FUNDS MULTI-STRATEGY TRUST
Supplement Dated July 7, 2020
to the Statutory Prospectus for Class A, Class C, Class R, Institutional Class,
Class T, Class R6, Class P and Administrative Class Shares of
Allianz Funds Multi-Strategy Trust,
Dated February 1, 2020 (as supplemented thereafter)
Disclosure Relating to All Series
On July 7, 2020, Allianz Global Investors, a leading global active asset manager encompassing Allianz Global Investors U.S. LLC (AllianzGI U.S.), investment manager for all series of Allianz Funds Multi-Strategy Trust (the Funds), and Virtus Investment Partners, Inc. (Virtus) announced they have entered into an agreement providing for a strategic partnership (the Agreement). Under the terms of the Agreement, among other matters, it is intended that a wholly-owned subsidiary of Virtus, Virtus Investment Advisers, Inc., will become the investment manager and administrator for the Funds and Virtus or an affiliate of Virtus will become the distributor for the Funds. Personnel of AllianzGI U.S. will continue to be responsible for day-to-day portfolio management of the Funds either through AllianzGI U.S. serving as sub-adviser or through such personnel becoming employees of Virtus or an affiliate of Virtus. Certain of the new arrangements, including the new management agreements, must be approved by the Funds Board of Trustees and Fund shareholders. Subject to these approvals, AllianzGI U.S. and Virtus expect that the arrangements will be in place by the end of calendar year 2020.
Please retain this Supplement for future reference.