X0101 EFFECT 33 LIVE 2021-12-20 16:00:00

N-14

0001593547 Advisors' Inner Circle Fund III 333-259932 0001593547 Advisors' Inner Circle Fund III S000075443 FS Chiron Real Asset Fund C000234543 Class I 0001691167 FS Series Trust S000063706 FS Chiron Real Asset Fund C000206506 Class I 0001593547 Advisors' Inner Circle Fund III S000075443 FS Chiron Real Asset Fund C000234544 Class A 0001691167 FS Series Trust S000063706 FS Chiron Real Asset Fund C000206505 Class A 0001593547 Advisors' Inner Circle Fund III S000075444 FS Multi-Strategy Alternatives Fund C000234545 Class I 0001691167 FS Series Trust S000056292 FS Multi-Strategy Alternatives Fund C000177448 Class I 0001593547 Advisors' Inner Circle Fund III S000075444 FS Multi-Strategy Alternatives Fund C000234546 Class A 0001691167 FS Series Trust S000056292 FS Multi-Strategy Alternatives Fund C000177447 Class A