AlphaCentric Income Opportunities Fund 
LEGAL PROCEEDINGS

On July 30, 2020, an investor in AIOF filed a 
putative class action in Florida state court, 
naming the adviser, the Trust, and others as 
defendants. Plaintiff alleges that AIOF 
misrepresented that it held no more than 15% of 
its assets in illiquid securities, among other 
things, and asserts violations of Sections I I, 
12(a)(2) and 15 of the Securities Act of 1933. The 
Florida action was dismissed it prejudice on 
September 22, 2021.

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 16, 2023, the New York court dismissed 
all but one claim for failure to state a claim. The 
defendants believe the remaining claim is 
meritless and intend to contest it vigorously.  An 
estimated $344,739 that is subject to insurance 
reimbursement in connection with this action is 
listed in the Statement of Assets and Liabilities 
for AIOF under "Due from insurance".