<PAGE> 1
AIM FLOATING RATE FUND
Supplement dated June 29, 2000
to the Prospectus dated April 3, 2000
The fifth paragraph under the heading entitled "MANAGEMENT - INVESTMENT
MANAGEMENT" on page 18 of the prospectus is deleted in its entirety and
replaced with the following:
"John P. Fenn will provide day-to-day management of the
Sub-Sub-Advised Assets of the Fund. Mr. Fenn is the Portfolio Manager
and has been responsible for the Sub-Sub-Advised Assets of the Fund
since 2000. He has been associated with INVESCO, Inc. and/or its
affiliates since 1999. He has been a Senior Portfolio Manager for
INVESCO, Inc. since 1999. From 1994 to 1999, he was a Senior Vice
President in the Capital Markets Services Group for General Electric
Corporation."
