Certified Annual Shareholder Report for Management Investment Companies (n-csr)

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED MANAGEMENT
INVESTMENT COMPANIES

Investment Company Act file number

811-21872

Mutual Fund Series Trust

(Exact name of registrant as specified in charter)

17605 Wright Street Omaha, Nebraska 68130

(Address of principal executive offices)

(Zip code)

James Ash, Gemini Fund Services, LLC.

450 Wireless Blvd., Hauppauge, NY 11788

(Name and address of agent for service)

Registrant's telephone number, including area code:

631-470-2619

Date of fiscal year end:

6/30

Date of reporting period: 6/30/13

ITEM 1. REPORTS TO SHAREHOLDERS.

[CATALYSTEGNCSR201309002.GIF]

ANNUAL REPORT

Eventide Gilead Fund

Eventide Healthcare & Life Sciences Fund

June 30, 2013

Eventide Asset Management, LLC

60 State Street

Suite 700

Boston, MA 02109

1-877-771-3836

Dear valued shareholders:

We are pleased to have been able to serve our investors over the past year. Eventide Gilead Fund (“Gilead”) completed the year on June 30th with an annual return of 35.61% compared to 20.60% for the S&P 500 Total Return Index, an outperformance of 15.01%. The Eventide Healthcare & Life Sciences Fund (“EHLS”), which was launched on December 27, 2012 completed the year with a 25.00% return compared to 23.96% for its relative index for the same period, an outperformance of 1.04%. The index that we have selected for EHLS is a blended index composed of equal parts of the S&P MidCap 400 Health Care Index and the S&P SmallCap 600 Health Care Index.

During this period, both Funds also had relatively low correlation to the market, which allowed them to be good diversifying components to your portfolios. For the year, the R-squared of Gilead was 54.51 and the R-squared of EHLS was 48.85, compared with the S&P 500 Index.

During the past year, our best performer was Sarepta Therapeutics Inc (2.22% of Gilead’s net assets and 3.06% of EHLS’s net assets as of June 30, 2013). While we continued to have excellent results selecting investments in the biotechnology and healthcare space, some of our top performers in Gilead included companies in the consumer discretionary space – Tesla Motors, Inc. (2.66% of net assets), financials – Ocwen Financial Corp. (2.00% of net assets), and industrials – Macquarie Infrastructure Co., Inc. (2.63% of net assets).

Our worst performer was Dynavax Technologies (0% of Gilead and EHLS net assets as of June 30, 2013). Dynavax’s stock price was hurt by the FDA’s decision to not approve the use of their drug candidate Hepislav. Although the Hepatitis B vaccine produced positive results and received the FDA advisory panel’s recommendation of the drug by a vote of 13 to 1 on the question of efficacy, the committee voted 8 to 5 with one FDA member abstaining from voting to not approve the drug due to what they considered insufficient safety data. Heplisav failed to convince the panel that the vaccine was safe, despite having treated more than 4,400 patients. Dynavax, therefore, has had to go back and perform a long-term late stage safety study on Heplisav, which has significantly delayed the approval process while burning through cash.

Overall, we are very pleased with the performance of the Funds during the past year.

We continue to study the macro-economic environment to determine how to position both the portfolios. Weighing the bearish and bullish arguments, we on balance believe that the market has further room for advancement.

The following graph of recommended equity allocation by sell-side analysts provides an indication about where we are currently within broad market cycles.

[CATALYSTEGNCSR201309004.GIF]

The referenced indices are shown for general market comparisons and are not meant to represent the Funds. Investors cannot directly invest in an index; unmanaged index returns do not reflect any fees, expenses or sales charges.

Last year, we mentioned in our letter how financial professionals were recommending a very low allocation to equities, in fact the lowest value since these data were systematically recorded starting in 1985. Bill Gross of PIMCO had caught headlines at that time for declaring equities effectively dead. As depicted in the chart above, sentiment has since rebounded but still remains bearish. Since investor sentiment is a good contrarian indicator, this bearishness suggests that it remains a good time to be invested.

One of the best developments in 2013 has been the brisk initial public offering (IPO) market within biotechnology and healthcare. While we have only participated in one IPO year to date, the new companies that have entered the market are providing us with many new ideas which are under diligence.

We remain positioned to take advantage of broad market appreciation because we believe that the market still has upside potential. There is still considerable money allocated to bonds that we believe can be moved into the equity markets causing significant appreciation. Other reasons for optimism include the falling labor costs in the U.S.; the US having become a net exporter of oil; the excellent health of corporate balance sheets; stocks’ inexpensive valuations compared to the 10-year treasury rates; and leading indicators, such as the Conference Board Leading Economic Index, are still suggesting recovery. In addition, global monetary easing continues unabated and this may serve as a “put” on the markets. Finally, largely due to revenue growth, the federal government is moving closer toward a balanced budget.

Yet, there are various concerns in the macro-economy that we continue to closely monitor. For example, the higher cost of borrowing could stifle the nascent housing recovery and push the economy back into a recession; recent company earnings announcements have been mixed; long-term price to earnings valuation metrics, such as a metric known as CAPE (which measures the cyclically adjusted P/E ratio over a 10 year period), show that the market is somewhat overvalued; an increase in commodity prices could hurt the economy; ongoing Middle East conflicts may cause energy spikes; and the national debt remains high.

In summary, while we are cautiously optimistic that the market still has upside potential in the current bull market, we continue to stress the importance of disciplined investing and hope that our investors can ignore the noise from financial news sources and spend meaningful time with their families and loved ones.

As always, we are grateful for your trust.

Sincerely,

Finny Kuruvilla & David Barksdale

----

The S&P 500 Total Return Index is an index created by Standard & Poor's of American stocks with the largest market capitalization. It is not an investment product available for purchase.

The S&P MidCap 400 Health Care Index is an index created by Standard & Poor's of those companies included in the S&P MidCap 400 that are classified as members of the GICS health care sector.

The S&P SmallCap 600 Health Care Index is an index created by Standard & Poor's of those companies included in the S&P SmallCap 600 that are classified as members of the GICS health care sector.

Correlation is a statistical measure of how two securities move in relation to each other.

R-Squared is calculated using the log of daily price changes of ETGLX and the S&P 500 index. R-Squared is the square of the correlation of the daily log returns of ETGLX and the Index.

Put serves as a hedge against a decline in share price.


*Eventide Gilead Fund*
PORTFOLIO REVIEW (Unaudited)
June 30, 2013

The Fund's performance figures* for the year ending June 30, 2013, compared to its benchmark:

			1 Year Return	3 Year Return	Since Inception
Retail Class ^(a)			35.61%	24.46%	14.96%
Class A without load ^(b)			35.49%	24.39%	21.64%
Class A with 5.75% load ^(b)			27.70%	21.94%	19.70%
Class C ^(b)			34.56%	23.47%	20.72%
Class I ^(c)			35.89%	24.68%	17.56%
S&P 500 Total Return Index ^{(d) **}			20.60%	18.45%	7.13%
*The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. Performance figures for periods greater than 1 year are annualized. The Fund's manager has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until October 31, 2013, to ensure that the net annual fund operating expenses (exclusive of any taxes, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, indirect expenses, expenses of other investment companies in which the Fund may invest, or extraordinary expenses such as litigation) will not exceed 1.64%, 1.69%, 2.44%, and 1.44% for the Eventide Gilead Fund's Retail Class, Class A, Class C, and Class I shares, respectively, subject to possible recoupment from the Fund in future years. Without these waivers, the Fund's total annual operating expenses would have been 2.05%, 2.08%, 2.84%, and 1.88% for the Eventide Gilead Fund's Retail Class, Class A, Class C, and Class I shares, respectively. Please review the Fund's most recent prospectus for more detail on the expense waiver. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836.
** The “S&P 500 Total Return Index”, a registered trademark of McGraw-Hill Co., Inc., is a market capitalization-weighted index of 500 widely held common stocks.
(a) Retail Class commenced operations on July 8, 2008.
(b) Class A and Class C commenced operations on October 28, 2009.
(c) Class I commenced operations on February 2, 2010.
(d) Since inception return assumes inception date of July 8, 2008.
Comparison of the Change in Value of a $10,000 Investment








Top 10 Holdings by Industry % of Net Assets
		Biotechnology		16.4%
		Pharmaceuticals		11.1%
		Auto Parts & Equipment		8.7%
		Commercial Services		6.3%
		Oil & Gas		5.5%
		Software		4.6%
		Telecommunications		3.9%
		Diversified Financial Services		3.7%
		Electric		3.5%
		Engineering & Construction		3.2%
		Other / Cash & Cash Equivalents		33.1%
				100.0%

	Please refer to the Schedule of Investments in this annual report for a detailed analysis of the Fund's holdings.


*Eventide Healthcare & Life Sciences Fund*
PORTFOLIO REVIEW (Unaudited)
June 30, 2013

The Fund's performance figures* for the period ending June 30, 2013, compared to its benchmarks:

				Since Inception(a)
Retail Class				25.00%
Class A without load				24.80%
Class A with 5.75% load				17.63%
Class C				24.40%
Class I				25.00%
S&P 500 Health Care Sector Total Return Index**				20.44%
Eventide Healthcare and Life Sciences Blend Index***				23.96%
*The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. The returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or on the redemptions of Fund shares. Past performance is no guarantee of future results. The Fund's manager has contractually agreed to reduce its fees and/or absorb expenses of the Fund, at least until December 31, 2013, to ensure that the net annual fund operating expenses (exclusive of any taxes, interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, indirect expenses, expenses of other investment companies in which the Fund may invest, or extraordinary expenses such as litigation) will not exceed 1.72%, 1.77%, 2.52%, and 1.52% for the Eventide Healthcare & Life Sciences Fund's Retail Class, Class A, Class C, and Class I shares, respectively, subject to possible recoupment from the Fund in future years. Without these waivers, the Fund's total annual operating expenses would have been 1.79%, 1.84%, 2.59%, and 1.59% for the Eventide Healthcare & Life Sciences Fund's Retail Class, Class A, Class C, and Class I shares, respectively. Please review the Fund's most recent prospectus for more detail on the expense waiver. For performance information current to the most recent month-end, please call toll-free 1-877-771-3836.
**The S&P 500 Health Care Sector Total Return Index is designed to measure the performance of the GICS health care sector. Each stock in the Index is a member of the S&P 500.
***The Eventide Healthcare & Life Sciences Blend Index is calculated by taking 50% of the returns of the S&P 400 Health Care Index and 50% of the returns of the S&P 600 Health Care Index.
(a) Eventide Healthcare and Life Sciences Fund commenced operations on December 27, 2012.
Comparison of the Change in Value of a $10,000 Investment




















Top 10 Holdings by Industry % of Net Assets
		Biotechnology	39.5%
		Pharmaceuticals	35.5%
		Healthcare-Products	9.9%
		Software	5.8%
		Energy - Alternate Sources	2.7%
		Electronics	1.5%
		Other / Cash & Cash Equivalents	5.1%
			100.0%

	Please refer to the Schedule of Investments in this annual report for a detailed analysis of the Fund's holdings.


*Eventide Gilead Fund*
SCHEDULE OF INVESTMENTS
June 30, 2013
Shares			Value

	COMMON STOCK - 96.3%
	AUTO MANUFACTURERS - 2.7%
16,100	Tesla Motors, Inc. *		$ 1,729,623

	AUTO PARTS & EQUIPMENT - 8.7%
21,400	Lear Corp.		1,293,844
19,600	Magna International, Inc.		1,395,912
26,300	TRW Automotive Holdings Corp. *		1,747,372
16,300	WABCO Holdings, Inc. *		1,217,447
			5,654,575
	BIOTECHNOLOGY - 16.4%
22,800	Ariad Pharmaceuticals, Inc. *		398,772
64,000	Celldex Therapeutics, Inc. *		999,040
165,500	Coronado Biosciences, Inc. *		1,423,300
38,300	Incyte Corp. Ltd. *		842,600
39,000	Ligand Pharmaceuticals, Inc. - Cl. B *		1,459,380
70,000	Novavax, Inc. *		143,500
132,000	NPS Pharmaceuticals, Inc. *		1,993,200
61,600	Sangamo Biosciences, Inc. *		481,096
61,000	Stemline Therapeutics, Inc. *		1,454,240
180,000	Trius Therapeutics, Inc. *		1,461,600
			10,656,728
	BUILDING MATERIALS - 1.3%
98,200	Headwaters, Inc. *		868,088

	CHEMICALS - 2.5%
24,800	LyondellBasell Industries NV- Cl. A		1,643,248

	COMMERCIAL SERVICES - 6.3%
50,000	Franklin Covey Co. *		673,000
52,500	KAR Auction Services, Inc.		1,200,675
31,900	Macquarie Infrastructure Co. LLC		1,705,055
19,300	Quanta Services, Inc. *		510,678
			4,089,408
	DIVERSIFIED FINANCIAL SERVICES - 3.7%
67,000	Aircastle Ltd.		1,071,330
31,500	Ocwen Financial Corp. *		1,298,430
			2,369,760
	ELECTRIC - 3.5%
52,600	Calpine Corp. *		1,116,698
43,600	NRG Energy, Inc.		1,164,120
			2,280,818
*Eventide Gilead Fund*
SCHEDULE OF INVESTMENTS (Continued)
June 30, 2013
Shares			Value

	ENERGY-ALTERNATE SOURCES - 3.1%
85,000	Enphase Energy, Inc. *		$ 657,050
112,900	Solazyme, Inc. *		1,323,188
			1,980,238
	ENGINEERING & CONSTRUCTION - 3.2%
15,800	Fluor Corp.		937,098
35,600	MasTec, Inc. *		1,171,240
			2,108,338
	FOOD - 3.2%
8,900	JM Smucker Co./The		918,035
153,300	SunOpta, Inc. *		1,163,547
			2,081,582
	FOREST PRODUCTS & PAPER - 1.5%
14,700	Domtar Corp.		977,550

	HEALTHCARE-PRODUCTS - 1.1%
34,400	ABIOMED, Inc. *		741,664

	MACHINERY-DIVERSIFIED - 3.0%
36,000	Briggs & Stratton Corp.		712,800
23,200	Wabtec Corp./DE		1,239,576
			1,952,376
	MISCELLANEOUS MANUFACTURING - 1.6%
26,500	AZZ, Inc.		1,021,840

	OIL & GAS - 5.5%
18,900	Cabot Oil & Gas Corp.		1,342,278
31,100	Cobalt International Energy, Inc. *		826,327
5,800	EOG Resources, Inc.		763,744
16,000	Seadrill Ltd.		651,840
			3,584,189
	OIL & GAS SERVICES - 3.1%
12,300	National Oilwell Varco, Inc.		847,470
16,000	Oceaneering International, Inc.		1,155,200
			2,002,670
	PHARMACEUTICALS - 11.1%
28,900	AbbVie, Inc.		1,194,726
118,000	ACADIA Pharmaceuticals, Inc. *		2,141,700
115,000	Array BioPharma, Inc. *		522,100
390,400	Dyax Corp. *		1,350,784
22,000	Portola Pharmaceuticals, Inc. *		540,540
37,900	Sarepta Therapeutics, Inc. *		1,442,095
			7,191,945
*Eventide Gilead Fund*
SCHEDULE OF INVESTMENTS (Continued)
June 30, 2013
Shares			Value

	RETAIL - 2.0%
32,100	Lowe's Cos., Inc.		$ 1,312,890

	SEMICONDUCTORS - 3.1%
13,916	ASML Holding NV		1,100,756
25,000	Ultratech, Inc. *		918,000
			2,018,756
	SOFTWARE - 4.6%
32,700	Aspen Technology, Inc. *		941,433
132,000	inContact, Inc. *		1,085,040
20,200	Red Hat, Inc. *		965,964
			2,992,437
	TELECOMMUNICATIONS - 3.9%
17,300	Crown Castle International Corp. *		1,252,347
31,000	Palo Alto Networks, Inc. *		1,306,960
			2,559,307
	TRANSPORTATION - 1.2%
44,000	Costamare, Inc.		758,120

	TOTAL COMMON STOCK (Cost $48,577,272)		62,576,150
Par Value
	CORPORATE BONDS - 0.4%
$ 120,000	Calvert Social Investment Foundation, 1.50%, 03/31/2015		120,000
145,000	Calvert Social Investment Foundation, 1.50%, 11/15/2015		145,000
	TOTAL CORPORATE BONDS (Cost $264,013)		265,000
Shares
	SHORT-TERM INVESTMENTS - 7.7%
5,004,802	Fidelity Institutional Money Market Fund - Institutional Class, 0.12%** (Cost $5,004,802)		5,004,802

	TOTAL INVESTMENTS - 104.4% (Cost $53,846,087)(a)		$ 67,845,952
	LIABILITIES IN EXCESS OF OTHER ASSETS - (4.4)%		(2,893,331)
	TOTAL NET ASSETS - 100.0%		$ 64,952,621

* Non-Income producing security.
** Interest rate reflects seven-day effective yield on June 30, 2013.
(a) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $53,831,159
and differs from fair value by net unrealized appreciation (depreciation) of securities as follows:
		Unrealized appreciation	$ 14,509,344
		Unrealized depreciation	(494,551)
		Net unrealized appreciation	$ 14,014,793


*Eventide Healthcare & Life Sciences Fund*
SCHEDULE OF INVESTMENTS
June 30, 2013
Shares			Value

	COMMON STOCK - 94.9%
	BIOTECHNOLOGY - 39.5% *
5,800	Ariad Pharmaceuticals, Inc.		$ 101,442
35,400	Athersys, Inc.		58,764
9,500	Celldex Therapeutics, Inc.		148,295
14,800	Coronado Biosciences, Inc.		127,280
2,800	Cubist Pharmaceuticals, Inc.		135,240
3,300	Incyte Corp.		72,600
5,900	Ligand Pharmaceuticals, Inc. - Cl. B		220,778
3,200	Medicines Co./The		98,432
9,300	MEI Pharma, Inc.		66,309
6,500	NewLink Genetics Corp.		128,180
55,000	Novavax, Inc.		112,750
11,900	NPS Pharmaceuticals, Inc.		179,690
2,700	Puma Biotechnology, Inc.		119,799
11,900	Repligen Corp.		98,056
10,900	Sangamo Biosciences, Inc.		85,129
2,800	Seattle Genetics, Inc.		88,088
11,400	Stemline Therapeutics, Inc.		271,776
22,000	Sunesis Pharmaceuticals, Inc.		114,620
15,200	Trius Therapeutics, Inc.		123,424
			2,350,652
	ELECTRONICS - 1.5%
1,200	FEI Co.		87,588

	ENERGY-ALTERNATE SOURCES - 2.7%
13,700	Solazyme, Inc. *		160,564

	HEALTHCARE-PRODUCTS - 9.9%
11,900	AtriCure, Inc. *		113,050
5,800	Bruker Corp. *		93,670
1,100	HeartWare International, Inc. *		104,621
5,800	Natus Medical, Inc. *		79,170
2,200	ResMed, Inc.		99,286
1,300	Teleflex, Inc.		100,737
			590,534
	PHARMACEUTICALS - 35.5%
3,000	AbbVie, Inc.		124,020
14,400	ACADIA Pharmaceuticals, Inc. *		261,360
12,000	Achillion Pharmaceuticals, Inc. *		98,160
1,700	BioMarin Pharmaceutical, Inc. *		94,843
40,900	Dyax Corp. *		141,514
5,900	Hyperion Therapeutics, Inc. *		129,800
*Eventide Healthcare & Life Sciences Fund*
SCHEDULE OF INVESTMENTS (Continued)
June 30, 2013
Shares			Value

	PHARMACEUTICALS - 35.5% (Continued)
6,000	Ironwood Pharmaceuticals, Inc. *		$ 59,700
10,500	Neurocrine Biosciences, Inc. *		140,490
4,500	Pacira Pharmaceuticals, Inc./DE *		130,500
1,300	Pharmacyclics, Inc. *		103,311
7,000	Portola Pharmaceuticals, Inc. *		171,990
17,300	Raptor Pharmaceutical Corp. *		161,755
4,800	Sarepta Therapeutics, Inc. *		182,640
1,100	Shire PLC - ADR		104,621
17,300	TG Therapeutics, Inc. *		110,547
8,100	Vivus, Inc. *		101,898
			2,117,149
	SOFTWARE - 5.8% *
1,200	athenahealth, Inc.		101,664
5,000	MedAssets, Inc.		88,700
2,000	Medidata Solutions, Inc.		154,900
			345,264

	TOTAL COMMON STOCK (Cost $5,145,686)		5,651,751

	SHORT-TERM INVESTMENTS - 11.5%
685,348	Fidelity Institutional Money Market Fund - Institutional Class, 0.12%** (Cost $685,348)		685,348

	TOTAL INVESTMENTS - 106.4% (Cost $5,831,034)(a)		$ 6,337,099
	LIABILITIES IN EXCESS OF OTHER ASSETS - (6.4)%		(381,119)
	TOTAL NET ASSETS - 100.0%		$ 5,955,980

ADR- American Depositary Receipt
* Non-Income producing security.
** Interest rate reflects seven-day effective yield on June 30, 2013.
(a) Represents cost for financial reporting purposes. Aggregate cost for federal tax purposes is $5,831,034
and differs from fair value by net unrealized appreciation (depreciation) of securities as follows:
		Unrealized appreciation	$ 681,128
		Unrealized depreciation	(175,063)
		Net unrealized appreciation	$ 506,065


*Eventide Funds*
STATEMENTS OF ASSETS AND LIABILITIES
June 30, 2013

		Eventide	Eventide Healthcare
		Gilead Fund	& Life Sciences Fund
ASSETS
	Investment securities:
	At cost	$ 53,846,087	$ 5,831,034
	At value	$ 67,845,952	$ 6,337,099
	Receivable for securities sold	412,670	96,655
	Receivable for Fund shares sold	286,518	79,315
	Dividends and interest receivable	21,431	24
	Due from Manager	-	30,084
	Prepaid expenses and other assets	47,735	17,518
	TOTAL ASSETS	68,614,306	6,560,695

LIABILITIES
	Payable for investments purchased	3,568,360	578,216
	Management fees payable	42,400	-
	Payable for Fund shares repurchased	12,604	4,566
	Distribution (12b-1) fees payable	12,592	1,800
	Fees payable to other related parties	10,069	4,833
	Accrued expenses and other liabilities	15,660	15,300
	TOTAL LIABILITIES	3,661,685	604,715
NET ASSETS		$ 64,952,621	$ 5,955,980

Composition of Net Assets:
	Paid in capital	$ 50,340,106	$ 5,598,137
	Accumulated net investment loss	(211,559)	(18,532)
	Accumulated net realized gain (loss) from security transactions	824,209	(129,690)
	Net unrealized appreciation on investments	13,999,865	506,065
NET ASSETS		$ 64,952,621	$ 5,955,980


*Eventide Funds*
STATEMENTS OF ASSETS AND LIABILITIES (continued)
June 30, 2013

		Eventide	Eventide Healthcare
		Gilead Fund	& Life Sciences Fund
Net Asset Value Per Share:
Retail Class Shares:
	Net Assets	$ 27,721,698	$ 650,712
	Shares of beneficial interest outstanding (a)	1,501,143	52,074
	Net asset value (Net Assets ÷ Shares Outstanding), offering price,
	and redemption price per share	$ 18.47	$ 12.50

Class A Shares:
	Net Assets	$ 29,929,009	$ 2,808,489
	Shares of beneficial interest outstanding (a)	1,622,692	225,036
	Net asset value (Net Assets ÷ Shares Outstanding), offering price,
	and redemption price per share (b)	$ 18.44	$ 12.48

	Maximum offering price per share
	(net asset value plus maximum sales charge of 5.75%)	$ 19.56	$ 13.24

Class C Shares:
	Net Assets	$ 3,599,115	$ 556,103
	Shares of beneficial interest outstanding (a)	200,953	44,712
	Net asset value (Net Assets ÷ Shares Outstanding), offering price,
	and redemption price per share (c)	$ 17.91	$ 12.44

Class I Shares:
	Net Assets	$ 3,702,799	$ 1,940,676
	Shares of beneficial interest outstanding (a)	199,217	155,251
	Net asset value (Net Assets ÷ Shares Outstanding), offering price,
	and redemption price per share	$ 18.59	$ 12.50

(a)	Unlimited number of shares of beneficial interest authorized, no par value.
(b)	Investments in Class A shares made at or above the $1 million breakpoint are not subject to an initial sales charge and may be subject to a 1.00% contingent deferred sales charge ("CDSC") on shares redeemed less than 18 months after the date of purchase (excluding shares purchased with reinvested dividends and/or distributions).
(c)	A CDSC of 1.00% is imposed in the event of certain redemption transactions within one year following each investment.

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*Eventide Funds*
STATEMENTS OF OPERATIONS
For the Year or Period Ended June 30, 2013


		Eventide	Eventide Healthcare
		Gilead Fund	& Life Sciences Fund *

INVESTMENT INCOME
	Dividends	$ 405,382	$ 808
	Interest	9,254	165
	Foreign dividend withholding taxes	(10,560)	-
	TOTAL INVESTMENT INCOME	404,076	973

EXPENSES
	Management fees	417,339	12,960
	Distribution (12b-1) fees:
	Retail Class	38,481	434
	Class A	46,649	1,027
	Class C	20,084	1,079
	Administrative fees	62,804	4,079
	Registration fees	48,363	11,100
	Mfund service fees	46,752	4,339
	Professional fees	15,669	20,360
	Non 12b-1 shareholder servicing fees	14,844	1,213
	Compliance officer fees	13,696	7,651
	Printing and postage expenses	10,471	2,134
	Custodian fees	6,838	2,955
	Trustees fees and expenses	1,437	1,669
	Insurance expense	1,339	35
	Interest expense	1,174	-
	Other expenses	4,368	2,752
	TOTAL EXPENSES	750,308	73,787

	Less: Fees waived and expenses reimbursed by the Manager	(50,021)	(54,272)
	NET EXPENSES	700,287	19,515

NET INVESTMENT LOSS		(296,211)	(18,542)

REALIZED AND UNREALIZED GAIN (LOSS) FROM INVESTMENTS
	Net realized gain (loss) from:
	Investments	1,665,839	(129,690)
	Net change in unrealized appreciation on:
	Investments	11,741,579	506,065

NET REALIZED AND UNREALIZED GAIN FROM INVESTMENTS		13,407,418	376,375

NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS		$ 13,111,207	$ 357,833

*	The Eventide Healthcare & Life Sciences Fund commenced operations on December 27, 2012.


*Eventide Gilead Fund*
STATEMENTS OF CHANGES IN NET ASSETS


		For the	For the
		Year Ended	Year Ended
		June 30, 2013	June 30, 2012
FROM OPERATIONS
	Net investment loss	$ (296,211)	$ (270,417)
	Net realized gain (loss) from investments	1,665,839	(809,371)
	Net change in unrealized appreciation on investments	11,741,579	100,755
Net increase (decrease) in net assets resulting from operations		13,111,207	(979,033)

DISTRIBUTIONS TO SHAREHOLDERS
	From net realized gains:
	Retail Class	-	(489,011)
	Class A	-	(247,813)
	Class C	-	(46,891)
	Class I	-	(235,082)
Total distributions to shareholders		-	(1,018,797)

FROM SHARES OF BENEFICIAL INTEREST
	Proceeds from shares sold:
	Retail Class	20,260,944	10,738,809
	Class A	17,091,794	11,729,028
	Class C	2,190,451	688,623
	Class I	1,950,847	8,465,630
	Net asset value of shares issued in reinvestment of distributions:
	Retail Class	-	447,309
	Class A	-	220,415
	Class C	-	46,696
	Class I	-	195,793
	Payments for shares redeemed:
	Retail Class	(10,820,434)	(7,310,071)
	Class A	(6,309,544)	(2,593,771)
	Class C	(542,104)	(217,674)
	Class I	(428,533)	(7,991,201)
Net increase in net assets from shares of beneficial interest		23,393,421	14,419,586


TOTAL INCREASE IN NET ASSETS		36,504,628	12,421,756

NET ASSETS
	Beginning of Year	28,447,993	16,026,237
	End of Year *	$ 64,952,621	$ 28,447,993
*Includes accumulated net investment loss of:		$ (211,559)	$ (144,331)
*Eventide Gilead Fund*
STATEMENTS OF CHANGES IN NET ASSETS (continued)


		For the	For the
		Year Ended	Year Ended
		June 30, 2013	June 30, 2012
SHARE ACTIVITY
Retail Class:
	Shares Sold	1,317,499	779,949
	Shares Reinvested	-	35,671
	Shares Redeemed	(726,982)	(572,156)
	Net increase in shares of beneficial interest outstanding	590,517	243,464

Class A:
	Shares Sold	1,070,623	866,426
	Shares Reinvested	-	17,591
	Shares Redeemed	(414,110)	(190,141)
	Net increase in shares of beneficial interest outstanding	656,513	693,876

Class C:
	Shares Sold	139,382	52,167
	Shares Reinvested	-	3,796
	Shares Redeemed	(37,109)	(17,091)
	Net increase in shares of beneficial interest outstanding	102,273	38,872

Class I:
	Shares Sold	111,844	639,782
	Shares Reinvested	-	15,564
	Shares Redeemed	(28,590)	(616,978)
	Net increase in shares of beneficial interest outstanding	83,254	38,368


*Eventide Healthcare & Life Sciences Fund*
STATEMENT OF CHANGES IN NET ASSETS


		For the
		Period Ended
		June 30, 2013 **
FROM OPERATIONS
	Net investment loss	$ (18,542)
	Net realized loss from investments	(129,690)
	Net change in unrealized appreciation on investments	506,065
Net increase in net assets resulting from operations		357,833

FROM SHARES OF BENEFICIAL INTEREST
	Proceeds from shares sold:
	Retail Class	692,334
	Class A	2,764,164
	Class C	523,666
	Class I	1,835,899
	Payments for shares redeemed:
	Retail Class	(116,388)
	Class A	(75,402)
	Class I	(26,126)
Net increase in net assets from shares of beneficial interest		5,598,147


TOTAL INCREASE IN NET ASSETS		5,955,980

NET ASSETS
	Beginning of Period	-
	End of Period *	$ 5,955,980
*Includes accumulated net investment loss of:		$ (18,532)
**	The Eventide Healthcare & Life Sciences Fund commenced operations on December 27, 2012.
*Eventide Healthcare & Life Sciences Fund*
STATEMENT OF CHANGES IN NET ASSETS (continued)


		For the
		Period Ended
		June 30, 2013 **
SHARE ACTIVITY
Retail Class:
	Shares Sold	61,725
	Shares Redeemed	(9,651)
	Net increase in shares of beneficial interest outstanding	52,074

Class A:
	Shares Sold	231,689
	Shares Redeemed	(6,653)
	Net increase in shares of beneficial interest outstanding	225,036

Class C:
	Shares Sold	44,712
	Net increase in shares of beneficial interest outstanding	44,712

Class I:
	Shares Sold	157,426
	Shares Redeemed	(2,175)
	Net increase in shares of beneficial interest outstanding	155,251
**	The Eventide Healthcare & Life Sciences Fund commenced operations on December 27, 2012.


*Eventide Gilead Fund*
FINANCIAL HIGHLIGHTS
Per Share Data and Ratios for a Share of Beneficial Interest Outstanding Throughout each of the Periods

		Retail Class
		Year		Year		Year	Year	Period
		Ended		Ended		Ended	Ended	Ended
		June 30,		June 30,		June 30,	June 30,	June 30,
		2013		2012		2011	2010	2009 (1)

Net asset value, beginning of period		$ 13.62		$ 14.89		$ 10.25	$ 9.66	$ 10.00

Activity from investment operations:
	Net investment income (loss)	(0.10)	(2)	(0.16)	(2)	(0.14)	(0.08)	0.02
	Net realized and unrealized gain
	(loss) on investments	4.95		(0.48)		5.02	0.77	(0.33)
Total from investment operations		4.85		(0.64)		4.88	0.69	(0.31)

Less distributions from:
	Net investment income	-		-		-	-	(0.02)
	Distribution in excess of net investment income	-		-		-	-	(0.01)
	Net realized gains	-		(0.63)		(0.24)	(0.10)	-
Total distributions		-		(0.63)		(0.24)	(0.10)	(0.03)

Net asset value, end of period		$ 18.47		$ 13.62		$ 14.89	$ 10.25	$ 9.66

Total return (3)		35.61%		(3.91)%		47.93%	7.00%	(2.96)%	(6)

Net assets, at end of period (000s)		$ 27,722		$ 12,400		$ 9,935	$ 4,858	$ 1,753

Ratio of gross expenses to average
	net assets (4)(5)(8)	1.73%		2.04%		2.57%	4.12%	10.95%	(7)
Ratio of net expenses to average
	net assets (5)(8)	1.62%		1.63%		1.67%	1.63%	1.69%	(7)
Ratio of net investment income (loss)
	to average net assets (5)(8)(9)	(0.65)%		(1.18)%		(1.08)%	(1.00)%	0.21%	(7)

Portfolio Turnover Rate		91%		257%		487%	398%	339%	(6)

(1)	The Eventide Gilead Fund's Retail Class shares commenced operations July 8, 2008.
(2)	Per share amounts calculated using the average shares method.
(3)	Total return in the above table is historical in nature and represents the rate that the investor would have earned or lost on an investment in the Fund assuming reinvestment of dividends and capital gain distributions, if any. Had the Manager not waived a portion of the Fund's expenses, total returns would have been lower.
(4)	Represents the ratio of expenses to average net assets absent fee waivers and/or expense reimbursements by the Manager.
(5)	The ratios of expenses to average net assets and net investment income (loss) to average net assets do not reflect the expenses of the underlying investment companies in which the Fund invests.
(6)	Not annualized.
(7)	Annualized.
(8)	The ratios include 0.00% for the year ended June 30, 2013, 0.01% for the year ended June 30, 2012 and 0.02% for the year ended June 30, 2011 attributable to interest expense. The ratios include 0.03% for the year ended June 30, 2011, 0.00% for the year ended June 30, 2010 and 0.02% for the period ended June 30, 2009 attributable to dividends on securities sold short.
(9)	Recognition of net investment income (loss) is affected by the timing and declaration of dividends by the underlying investment companies in which the fund invests.


Eventide Gilead Fund				Eventide Healthcare & Life Sciences Fund
2014	2015		2016	2016
$103,626	$91,352	$50,021			$54,272


	Ordinary	Long-Term	Total
	Income	Capital Gain	Distributions
Eventide Gilead Fund	$ 1,012,956	$ 5,841	$ 1,018,797


		Late Year
		Losses
Eventide Gilead Fund		$ 226,960
Eventide Healthcare & Life Sciences Fund		18,532


	Paid	Accumulated		Accumulated
	In	Net Investment		Net Realized Gain/(Loss)
	Capital	Loss		from Security Transactions
Eventide Gilead Fund	$ (231,639)	$ 228,983	$	2,656
Eventide Healthcare & Life Sciences Fund	(10)	10		0


Name, Address Year of Birth	Position(s) Held with Registrant	*Term and Length Served**	Principal Occupation(s) During Past 5 Years	Number of Portfolios Overseen In The Fund Complex	Other Directorships Held During Past 5 Years
Tobias Caldwell c/o Mutual Fund Series Trust 17605 Wright Street, Omaha NE 68130 Year of Birth: 1967	Trustee	Since 6/2006	Manager of Genovese Family Enterprises, a real estate firm, since 1999. Manager of PTL Real Estate LLC, a real estate/investment firm since 2001.	22	Variable Insurance Trust since 2011
Tiberiu Weisz c/o Mutual Fund Series Trust 17605 Wright Street, Omaha NE 68130 Year of Birth: 1949	Trustee	Since 6/2006	Attorney with and shareholder of Gottlieb, Rackman & Reisman, P.C., since 1994.	22	Variable Insurance Trust since 2011
Dr. Bert Pariser c/o MITCU Corporation 860 East Broadway, Suite 2D, Long Beach, NY 11561 Year of Birth: 1940	Trustee	Since 5/2007	Managing Partner of The MITCU Corporation, a technology consulting firm since 2004. Faculty Member Technical Career Institutes, since 1991	22	Variable Insurance Trust since 2011


						*Actual*			*Hypothetical* (5% return before expenses)
	Fund’s Annualized Expense Ratio		Beginning Account Value 1/1/13		Ending Account Value 6/30/13		Expenses Paid During Period*	Ending Account Value 6/30/13		Expenses Paid During Period

Eventide Gilead Fund – Retail Class		1.62%		$1,000.00		$1,249.70	$9.02		$1,016.78		$ 8.08
Eventide Gilead Fund – Class A		1.67%		$1,000.00		$1,249.30	$9.31		$1,016.51		$ 8.35
Eventide Gilead Fund – Class C		2.42%		$1,000.00		$1,244.60	$13.47		$1,012.79		$ 12.08
Eventide Gilead Fund – Class I		1.42%		$1,000.00		$1,251.00	$7.93		$1,017.75		$ 7.10
Eventide Healthcare & Life Sciences Fund – Retail Class		1.63%		$1,000.00		$1,246.30	$9.08		$1,016.71		$ 8.15
Eventide Healthcare & Life Sciences Fund – Class A		1.68%		$1,000.00		$1,244.30	$9.35		$1,016.46		$ 8.40
Eventide Healthcare & Life Sciences Fund – Class C		2.43%		$1,000.00		$1,240.30	$13.50		$1,012.74		$ 12.13
Eventide Healthcare & Life Sciences Fund – Class I		1.43%		$1,000.00		$1,246.30	$7.96		$1,017.70		$ 7.15


Name, Address Year of Birth	Position(s) Held with Registrant	*Term and Length Served**	Principal Occupation(s) During Past 5 Years	Number of Portfolios Overseen In The Fund Complex	Other Directorships Held During Past 5 Years
Jerry Szilagyi 22 High Street Huntington, NY 11743 Year of Birth: 1962	Trustee, President and Secretary	Trustee since 7/2006; President since 2/2012; Secretary since 2/2013	Managing Member, Catalyst Capital Advisors LLC, 1/2006- present; President, MFund Distributors LLC, 10/12-present; President, MFund Services LLC, 1/2012 - Present; President, Abbington Capital Group LLC, 1998- present; President, Cross Sound Capital LLC, 6/2011 to present; President, Mutual Advisors, Inc., 3/2011 to present; CEO, ThomasLloyd Global Asset Management ( Americas ) LLC, 9/2006 to 2010.	22	Variable Insurance Trust since 2010
Erik Naviloff 80 Arkay Drive Hauppauge, New York 11788 Year of Birth: 1968	Treasurer	Since 4/2012	Vice President of Gemini Fund Services, LLC (since 2011); Assistant Vice President, Gemini Fund Services, (2007 - 2012); Senior Accounting Manager, Fixed Income, Dreyfus Corporation (2002 to 2007).	N/A	N/A
Steve Troche 80 Arkay Drive. Hauppauge, New York 11788 Year of Birth: 1984	Assistant Secretary	Since 2/2013	Junior Paralegal, Gemini Fund Services, LLC, since 2012; Legal Assistant, Gemini Fund Services, LLC, 2011 to 2012; MetLife, Financial Services Representative, 2008 to 2010.	N/A	N/A
Debra Brown CCO Compliance 1140 Avenue of the Americas, 9 ^th Floor New York, NY 10036 Year of Birth: 1962	Chief Compliance Officer	Since 7/2012	Chief Compliance Officer, CCO Compliance Services, LLC 7/2012 to present; Attorney, Brown & Associates LLC 9/2000 to the present	N/A	N/A


(a)	The registrant has, as of the end of the period covered by this report, adopted a code of ethics that applies to the registrant's principal executive officer, principal financial officer, and principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party.


By Jerry Szilagyi	/s/ Jerry Szilagyi
President,
Date: September 3, 2013


By Jerry Szilagyi	/s/ Jerry Szilagyi ___________
President
Date: September 3, 2013


(b)	During the period covered by this report, there were no amendments to any provision of the code of ethics.


	The registrant’s Board of Trustees has determined that it does not have an audit committee financial expert serving on its audit committee. At this time, the registrant believes that the experience provided by each member of the audit committee together offer the registrant adequate oversight for the registrant’s level of financial complexity.


(a)	Audit Fees. The aggregate fees billed for each of the last two fiscal years for professional services rendered by the registrant's principal accountant for the audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for those fiscal years are as follows:
Trust Series		2013	2012
Eventide Gilead Fund		12,035	13,000
Eventide Healthcare & Life Sciences Fund		12,453	-


(b)	Audit-Related Fees. There were no fees billed in each of the last two fiscal years for assurances and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this item.
(c)	Tax Fees. The aggregate fees billed in each of the last two fiscal years for professional services rendered by the principal accountant for tax compliance are as follows:


(d)	All Other Fees. The aggregate fees billed in each of the last two fiscal years for products and services provided by the registrant’s principal accountant, other than the services reported in paragraphs (a) through (c) of this item were $0 and $0 for the fiscal years ended June 30, 2013 and 2012 respectively.
(e)(1)	The audit committee does not have pre-approval policies and procedures. Instead, the audit committee or audit committee chairman approves on a case-by-case basis each audit or non-audit service before the principal accountant is engaged by the registrant.
(e)(2)	There were no services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.
f)	Not applicable. The percentage of hours expended on the principal accountant's engagement to audit the registrant's financial statements for the most recent fiscal year that were attributed to work performed by persons other than the principal accountant's full-time, permanent employees was zero percent (0%).
(g)	All non-audit fees billed by the registrant's principal accountant for services rendered to the registrant for the fiscal years ended June 30, 2013 and 2012 respectively are disclosed in (b)-(d) above. There were no audit or non-audit services performed by the registrant's principal accountant for the registrant's adviser.


By Erik Naviloff	/s/ Erik Naviloff_____________
Treasurer
Date: September 3, 2013