THE MARSICO INVESTMENT FUND PROSPECTUS

THE MARSICO INVESTMENT FUND

PROSPECTUS

JANUARY 31, 2023

Class/Ticker MARSICO FOCUS FUND INVESTOR CLASS (MFOCX) INSTITUTIONAL CLASS (MIFOX) MARSICO GROWTH FUND INVESTOR CLASS (MGRIX) INSTITUTIONAL CLASS (MIGWX) MARSICO MIDCAP GROWTH FOCUS FUND INVESTOR CLASS (MXXIX) INSTITUTIONAL CLASS (MIDFX) MARSICO INTERNATIONAL OPPORTUNITIES FUND INVESTOR CLASS (MIOFX) INSTITUTIONAL CLASS (MIIOX) MARSICO GLOBAL FUND INVESTOR CLASS (MGLBX) INSTITUTIONAL CLASS (MIGOX)

The Securities and Exchange Commission ("SEC") has not approved or disapproved these securities or determined if this Prospectus is truthful or complete. Any representation to the contrary is a criminal offense.

THE MARSICO INVESTMENT FUND Marsico Focus Fund Marsico Growth Fund

Marsico Midcap Growth Focus Fund Marsico International Opportunities Fund

Marsico Global Fund

Supplement dated May 1, 2023 to the Prospectus and Statement of Additional Information ("SAI") dated January 31, 2023.

The purpose of this supplement is to update information relating to (i) the portfolio managers of the Marsico International Opportunities Fund and the Marsico Global Fund, and (ii) certain officers of The Marsico Investment Fund (the "Trust"). Effective April 17, 2023, Robert G. Susman no longer serves as a co-portfolio manager of the Marsico International Opportunities Fund and the Marsico Global Fund and Peter C. Marsico and James D. Marsico have been added as co-portfolio managers of those Funds. In addition, effective March 31, 2023, Lynnett E. F. Macfarlane was elected as the Vice President, Secretary, and Treasurer of the Trust.

Accordingly, the following related changes are made to the Prospectus and the SAI:

PROSPECTUS

In the Prospectus "Fund Summaries ? Marsico International Opportunities Fund" section on page 17 under the heading "Management," the discussion of "Portfolio Managers" is amended to state:

"Portfolio Managers: The Fund is co-managed by a team of managers. The members of the team who are jointly and primarily responsible for the day-to-day management of the Fund are Thomas F. Marsico, who has managed the Fund since July 2017, Peter C. Marsico, who has comanaged the Fund since April 2023, and James D. Marsico, who has co-managed the Fund since April 2023."

In the Prospectus "Fund Summaries ? Marsico Global Fund" section on page 22 under the heading "Management," the discussion of "Portfolio Managers" is amended to state:

"Portfolio Managers: The Fund is co-managed by a team of managers. The members of the team who are jointly and primarily responsible for the day-to-day management of the Fund are Thomas F. Marsico, who has managed the Fund since its inception in June 2007, Peter C. Marsico, who has co-managed the Fund since April 2023, and James D. Marsico, who has comanaged the Fund since April 2023."

In the Prospectus "Fund Management" section on page 34 under the heading "The Portfolio Managers," the discussion of "The International Opportunities Fund" is amended to delete all references to and biographical information of Robert G. Susman and to add:

"Peter C. Marsico co-manages the International Opportunities Fund. Information relating to Mr. Marsico is provided above.

James D. Marsico co-manages the International Opportunities Fund. Information relating to Mr. Marsico is provided above."

In the Prospectus "Fund Management" section on page 34 under the heading "The Portfolio Managers," the discussion of "The Global Fund" is amended to delete all references to and biographical information of Robert G. Susman and to add:

"Peter C. Marsico co-manages the Global Fund. Information relating to Mr. Marsico is provided above.

James D. Marsico co-manages the Global Fund. Information relating to Mr. Marsico is provided above."

STATEMENT OF ADDITIONAL INFORMATION

In the SAI "Portfolio Managers" section on pages 81-82, the discussion and table are amended to remove all references to and all information entered for Robert G. Susman, and to state that, "Thomas F. Marsico, Peter C. Marsico, and James D. Marsico are the portfolio managers of the Focus Fund, the Growth Fund, the Midcap Growth Focus Fund, the International Opportunities Fund, and the Global Fund."

In the SAI "Portfolio Managers" section on pages 84-85 in the table under the heading captioned "Portfolio Manager Fund Ownership," the table is amended to remove all references to and all information entered for Robert G. Susman.

In the SAI "Portfolio Managers" section on page 84 the table under the heading "Portfolio Manager Fund Ownership," is amended to reflect that as of March 31, 2023, Peter C. Marsico beneficially between $50,001-$100,000 in shares of the Marsico Global Fund and beneficially owned $0 in shares ("None") of the Marsico International Opportunities Fund, and James D. Marsico beneficially between $50,001-$100,000 in shares of the Marsico Global Fund and beneficially owned $0 in shares ("None") of the Marsico International Opportunities Fund.

In the SAI "Trustees And Officers Of The Trust" section on page 46 the table under the heading captioned "Officers Who Are Not Trustees," is hereby replaced with the following table:

NAME, ADDRESS AND AGE

TERM OF OFFICE

AND POSITION(S) LENGTH HELD WITH OF TIME THE TRUST SERVED

PRINCIPAL OCCUPATION(S) DURING THE PAST

FIVE YEARS

Lynnett E.F. Macfarlane, CPA 1200 17th Street Suite 1700 Denver, CO 80202 DOB: 1973

Vice President, Secretary and Treasurer

Since

Executive Vice President

March 2023 Operations (April 2023),

Vice President Portfolio

Operations, Marsico

Capital Management, LLC

(more than five years).

NUMBER OF FUNDS IN FUND COMPLEX OVERSEEN

BY OFFICER

N/A

OTHER DIRECTORSHIPS

HELD BY OFFICER

N/A

Christopher

Chief

Since

Executive Vice President

N/A

N/A

Girvan

Compliance January (April 2023), Vice President,

1200 17th Street Officer

2022

Secretary, and Chief

Suite 1700

Compliance Officer (January

Denver, CO

2022), Director of

80202

Compliance, Marsico Capital

DOB: 1972

Management, LLC (more

than five years).

INVESTORS SHOULD RETAIN THIS SUPPLEMENT FOR FUTURE REFERENCE

TABLEOFCONTENTS

FUND SUMMARIES

Marsico Focus Fund

1

Marsico Growth Fund

5

Marsico Midcap Growth Focus Fund

9

Marsico International Opportunities Fund

13

Marsico Global Fund

18

Summary of Other Important Information Regarding Fund Shares

23

MORE INFORMATION ABOUT THE FUNDS

Additional Information About Investment Objectives, Strategies and Risks

24

Some Defined Terms

25

The Investment Selection Process Used by the Funds

27

The Principal Risks of Investing in the Funds

28

Portfolio Holdings

32

FUND MANAGEMENT

The Investment Adviser

33

The Portfolio Managers

34

SHAREHOLDER INFORMATION

Pricing of Fund Shares

35

Instructions for Opening and Adding to an Account

36

Telephone and Wire Transactions

37

Additional Purchase Information

37

Customer Identification Information

37

Investment Minimums

38

Instructions for Selling Fund Shares

39

Additional Redemption Information

39

How to Exchange Shares

41

Conversion of Shares

41

Fund Transactions Made Through the Marsico Funds Website

41

Retirement Plan Services

42

Automatic Services for Fund Investors

42

Shareholder Communications

43

Dividends and Distributions

43

Taxes

43

FINANCIAL HIGHLIGHTS

45

THE MARSICO FUNDS PRIVACY NOTICE

49

WHERE TO GO FOR MORE INFORMATION

Annual and Semi-Annual Reports

51

Statement of Additional Information

51

THE MARSICO INVESTMENT FUND

52

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