AIM SERIES TRUST
497, 1998-12-21
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<PAGE>   1
                            ADVISOR CLASS SHARES OF:

                             AIM GLOBAL TRENDS FUND

                       Supplement dated December 21, 1998
                    to the Prospectus dated September 8, 1998
                       as supplemented October 16, 1998

Effective December 21, 1998, Advisor Class shares of the Fund may be exchanged
for AIM Cash Reserve Shares of AIM Money Market Fund. Advisor Class shareholders
may obtain a copy of the AIM Money Market Fund prospectus by calling (800)
347-4246. In addition, certain institutional holders of Advisor Class shares may
be eligible to invest in other money market funds advised by A I M Advisors,
Inc. For further information about such institutional money market funds call
Fund Management Company at (800) 659-1005.


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