Rule 497(e)
Registration Nos. 333-168727 and 811-22452
FIRST TRUST SERIES FUND
(the “Trust”)
FIRST TRUST SHORT DURATION HIGH INCOME
FUND
(the “Fund”)
SUPPLEMENT TO THE PROSPECTUS AND STATEMENT
OF ADDITIONAL INFORMATION
DATED MARCH 1, 2021
DATED MARCH 31, 2021
Notwithstanding anything to the contrary in the Fund’s Prospectus and Statement of Additional Information, effective March 31, 2021, Orlando Purpura is no longer a portfolio manager for the Fund. William Housey and Jeffrey Scott will continue to serve as portfolio managers for the Fund.
PLEASE KEEP THIS SUPPLEMENT WITH YOUR FUND
PROSPECTUS
AND SUMMARY PROSPECTUS FOR FUTURE REFERENCE