<PAGE> 1
AIM CHARTER FUND
AIM CONSTELLATION FUND
AIM WEINGARTEN FUND
INSTITUTIONAL CLASS
Supplement dated February 25, 2000
to the Prospectus dated January 6, 2000
as supplemented February 4, 2000
This supplement supersedes and replaces in its entirety the supplement dated
February 4, 2000.
At a meeting held on February 3, 2000, the Board of Directors of AIM Equity
Funds, Inc. (the company), on behalf of AIM Charter Fund, AIM Constellation Fund
and AIM Weingarten Fund (the funds), voted to request shareholders to approve
the following items that will affect the funds:
o An Agreement and Plan of Reorganization which provides for the
reorganization of the company, which is currently a Maryland
corporation, as a Delaware business trust;
o A new advisory agreement between the company and A I M Advisors,
Inc. (AIM). The principal changes to the advisory agreement are
(i) the deletion of references to the provision of administrative
services and certain expense limitations that are no longer
applicable, and (ii) the clarification of provisions relating to
delegations of responsibilities and the non-exclusive nature of
AIM's services. The revised advisory agreement does not change
the fees paid by the funds (except that the agreement permits the
funds to pay a fee to AIM in connection with any new securities
lending program implemented in the future); and
o Changing the funds' fundamental investment restrictions. The
proposed revisions to the funds' fundamental investment
restrictions are described in a supplement to the funds'
statement of additional information.
The Board of Directors of the company has called a meeting of each fund's
shareholders to be held on or about May 3, 2000 to vote on these and other
proposals. Only shareholders of record as of February 18, 2000 will be entitled
to vote at the meeting. Proposals that are approved are expected to become
effective on or about May 26, 2000.
At the February 3, 2000 meeting of the company's Board, the Directors approved a
change in AIM Weingarten Fund's investment objective. The change would delete
references to the types of securities that the fund will purchase to achieve its
objective. Pursuant to this change, which will become effective on or about May
26, 2000, the fund's investment objective will read: "The fund's investment
objective is to provide growth of capital."
At the February 3, 2000 meeting of the company's Board, the Directors also
approved the following investment policy change with respect to AIM Charter
Fund, which is effective immediately. The second paragraph under the heading
"INVESTMENT OBJECTIVES AND STRATEGIES - AIM CHARTER FUND (CHARTER)" on page 1 of
the prospectus is hereby deleted in its entirety, and is replaced with the
following:
"The fund seeks to meet these objectives by investing at least 65% of
its total assets in securities of established companies that have
long-term above-average growth in earnings and dividends, and growth
companies that the portfolio managers believe have the potential for
above-average growth in earnings and dividends. The portfolio managers
consider whether to sell a particular security when they believe the
security no longer has that potential. The fund may also invest up to
20% of its total assets in foreign securities."
<PAGE> 2
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT - PORTFOLIO MANAGERS - CONSTELLATION" on page 5 of the
prospectus:
o David P. Barnard, Senior Portfolio Manager, who has been
responsible for the fund since 1990 and has been associated with
the advisor and/or its affiliates since 1982.
o Steven A. Brase, Portfolio Manager, who has been responsible for
the fund since 2000 and has been associated with the advisor
and/or its affiliates since 1998. From 1995 to 1998, he was
Associate Portfolio Manager and Partner for Bricoleur Capital
Management, Inc.
o Brant H. DeMuth, Senior Portfolio Manager, who has been
responsible for the fund since 2000 and has been associated with
the advisor and/or its affiliates since 1996. From 1992 to 1996,
he was Portfolio Manager for Colorado Public Employee's
Retirement Association.
o Robert M. Kippes, Senior Portfolio Manager, who has been
responsible for the fund since 1993 and has been associated with
the advisor and/or its affiliates since 1989.
o Christopher P. Perras, Portfolio Manager, who has been
responsible for the fund since 1999 and has been associated with
the advisor and/or its affiliates since 1999. From 1997 to 1999,
he was an equity analyst at Van Wagoner Capital Management. From
1995 to 1997, he was Associate Portfolio Manager for Van Kampen
American Capital Asset Management, Inc.
o Charles D. Scavone, Senior Portfolio Manager, who has been
responsible for the fund since 1996 and has been associated with
the advisor and/or its affiliates since 1996. From 1994 to 1996,
he was Associate Portfolio Manager for Van Kampen American
Capital Asset Management, Inc.
o Kenneth A. Zschappel, Senior Portfolio Manager, who has been
responsible for the fund since 1996 and has been associated with
the advisor and/or its affiliates since 1990."
<PAGE> 3
AIM CONSTELLATION FUND
CLASS A, CLASS B AND CLASS C SHARES
Supplement dated February 25, 2000
to the Prospectus dated January 6, 2000
as supplemented February 4, 2000
This supplement supersedes and replaces in its entirety the supplement dated
February 4, 2000.
At a meeting held on February 3, 2000, the Board of Directors of AIM Equity
Funds, Inc. (the company), on behalf of AIM Constellation Fund (the fund), voted
to request shareholders to approve the following items that will affect the
fund:
o An Agreement and Plan of Reorganization which provides for the
reorganization of the company, which is currently a Maryland
corporation, as a Delaware business trust;
o A new advisory agreement between the company and A I M Advisors,
Inc. (AIM). The principal changes to the advisory agreement are
(i) the deletion of references to the provision of administrative
services and certain expense limitations that are no longer
applicable, and (ii) clarification of provisions relating to
delegations of responsibilities and the non-exclusive nature of
AIM's services. The revised advisory agreement does not change
the fees paid by the fund (except that the agreement permits the
fund to pay a fee to AIM in connection with any new securities
lending program implemented in the future); and
o Changing the fund's fundamental investment restrictions. The
proposed revisions to the fund's fundamental investment
restrictions are described in a supplement to the fund's
statement of additional information.
The Board of Directors of the company has called a meeting of the fund's
shareholders to be held on or about May 3, 2000 to vote on these and other
proposals. Only shareholders of record as of February 18, 2000 will be entitled
to vote at the meeting. Proposals that are approved are expected to become
effective on or about May 26, 2000.
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT - PORTFOLIO MANAGERS" on page 4 of the prospectus:
"The advisors use a team approach to investment management. The
individual members of the team who are primarily responsible for the
day-to-day management of the fund's portfolio, all of whom are
officers of the subadvisor, are
o David P. Barnard, Senior Portfolio Manager, who has been
responsible for the fund since 1990 and has been associated with
the advisor and/or its affiliates since 1982.
o Steven A. Brase, Portfolio Manager, who has been responsible for
the fund since 2000 and has been associated with the advisor
and/or its affiliates since 1998. From 1995 to 1998, he was
Associate Portfolio Manager and Partner for Bricoleur Capital
Management, Inc.
o Brant H. DeMuth, Senior Portfolio Manager, who has been
responsible for the fund since 2000 and has been associated with
the advisor and/or its affiliates since 1996. From 1992 to 1996,
he was Portfolio Manager for Colorado Public Employee's
Retirement Association.
o Robert M. Kippes, Senior Portfolio Manager, who has been
responsible for the fund since 1993 and has been associated with
the advisor and/or its affiliates since 1989.
<PAGE> 4
o Christopher P. Perras, Portfolio Manager, who has been
responsible for the fund since 1999 and has been associated with
the advisor and/or its affiliates since 1999. From 1997 to 1999,
he was an equity analyst at Van Wagoner Capital Management. From
1995 to 1997, he was Associate Portfolio Manager for Van Kampen
American Capital Asset Management, Inc.
o Charles D. Scavone, Senior Portfolio Manager, who has been
responsible for the fund since 1996 and has been associated with
the advisor and/or its affiliates since 1996. From 1994 to 1996,
he was Associate Portfolio Manager for Van Kampen American
Capital Asset Management, Inc.
o Kenneth A. Zschappel, Senior Portfolio Manager, who has been
responsible for the fund since 1996 and has been associated with
the advisor and/or its affiliates since 1990."
<PAGE> 5
AIM LARGE CAP BASIC VALUE FUND
CLASS A, CLASS B AND CLASS C SHARES
Supplement dated February 25, 2000
to the Prospectus dated January 6, 2000,
as supplemented January 6, 2000, February 1, 2000 and February 4, 2000
This supplement supersedes and replaces in its entirety the supplements dated
January 6, 2000, February 1, 2000 and February 4, 2000.
At a meeting held on February 3, 2000, the Board of Directors of AIM Equity
Funds, Inc. (the company), on behalf of AIM Large Cap Basic Value Fund (the
fund), voted to request shareholders to approve the following items that will
affect the fund:
- An Agreement and Plan of Reorganization which provides for the
reorganization of the company, which is currently a Maryland
corporation, as a Delaware business trust; and
- A new advisory agreement between the company and A I M Advisors, Inc.
(AIM). The principal changes to the advisory agreement are (i) the
deletion of references to the provision of administrative services and
certain expense limitations that are no longer applicable, and (ii) the
clarification of provisions relating to delegations of responsibilities
and the non-exclusive nature of AIM's services. The revised advisory
agreement does not change the fees paid by the fund (except that the
agreement permits the fund to pay a fee to AIM in connection with any
new securities lending program implemented in the future).
The Board of Directors of the company has called a meeting of the fund's
shareholders to be held on or about May 3, 2000 to vote on these and other
proposals. Only shareholders of record as of February 18, 2000 will be entitled
to vote at the meeting. Proposals that are approved are expected to become
effective on or about May 26, 2000.
Currently, only Class A shares of the fund are available to investors.
Class B shares and Class C shares of the fund are not currently available.
Investors may purchase Class A shares of the fund through exchanges from other
AIM Funds, as well as through automatic dividend reinvestment from another AIM
Fund.
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT - PORTFOLIO MANAGERS" on page 3 of the prospectus:
"The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day
management of the fund's portfolio, all of whom are officers of A I M
Capital Management, Inc., a wholly owned subsidiary of the advisor, are
o Evan G. Harrel, Senior Portfolio Manager, who has been responsible for
the fund since 1999 and has been associated with the advisor and/or its
affiliates since 1998. From 1994 to 1998, he was Vice President and
portfolio manager with Van Kampen American Capital Asset Management,
Inc.
o Matthew W. Seinsheimer, Portfolio Manager, who has been responsible for
the fund since 2000 and has been associated with the advisor and/or its
affiliates since 1998. From 1995 to 1998, he was Portfolio Manager for
American Indemnity Company.
<PAGE> 6
o Bret W. Stanley, Senior Portfolio Manager, who has been responsible for
the fund since 1999 and has been associated with the advisor and/or its
affiliates since 1998. From 1994 to 1998, he was Vice President and
portfolio manager with Van Kampen American Capital Asset Management,
Inc."
<PAGE> 7
AIM MID CAP GROWTH FUND
CLASS A, CLASS B AND CLASS C SHARES
Supplement dated February 25, 2000
to the Prospectus dated January 6, 2000,
as supplemented February 4, 2000
This supplement supersedes and replaces in its entirety the supplement dated
February 4, 2000.
At a meeting held on February 3, 2000, the Board of Directors of AIM Equity
Funds, Inc. (the company), on behalf of AIM Mid Cap Growth Fund (the fund),
voted to request shareholders to approve the following items that will affect
the fund:
- An Agreement and Plan of Reorganization which provides for the
reorganization of the company, which is currently a Maryland
corporation, as a Delaware business trust; and
- A new advisory agreement between the company and A I M Advisors, Inc.
(AIM). The principal changes to the advisory agreement are (i) the
deletion of references to the provision of administrative services and
certain expense limitations that are no longer applicable, and (ii) the
clarification of provisions relating to delegations of responsibilities
and the non-exclusive nature of AIM's services. The revised advisory
agreement does not change the fees paid by the fund (except that the
agreement permits the fund to pay a fee to AIM in connection with any
new securities lending program implemented in the future).
The Board of Directors of the company has called a meeting of the fund's
shareholders to be held on or about May 3, 2000 to vote on these and other
proposals. Only shareholders of record as of February 18, 2000 will be entitled
to vote at the meeting. Proposals that are approved are expected to become
effective on or about May 26, 2000.
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT - PORTFOLIO MANAGERS" on page 3 of the prospectus:
"The advisor uses a team approach to investment management. The individual
members of the team who are primarily responsible for the day-to-day
management of the fund's portfolio, all of whom are officers of A I M
Capital Management, Inc., a wholly owned subsidiary of the advisor, are
o Steven A. Brase, Portfolio Manager, who has been responsible for the
fund since 2000 and has been associated with the advisor and/or its
affiliates since 1998. From 1995 to 1998, he was Associate Portfolio
Manager and Partner for Bricoleur Capital Management, Inc.
o Brant H. DeMuth, Senior Portfolio Manager, who has been responsible for
the fund since 1999 and has been associated with the advisor and/or its
affiliates since 1996. From 1992 to 1996, he was Portfolio Manager for
Colorado Public Employee's Retirement Association.
o Christopher P. Perras, Portfolio Manager, who has been responsible for
the fund since 1999 and has been associated with the advisor and/or its
affiliates since 1999. From 1997 to 1999, he was an equity analyst at
Van Wagoner Capital Management. From 1995 to 1997, he was Associate
Portfolio Manager from Van Kampen American Capital Asset Management,
Inc.
o Charles D. Scavone, Senior Portfolio Manager, who has been responsible
for the fund since 1999 and has been associated with the advisor and/or
its affiliates since 1996. From 1994 to 1996, he was Associate
Portfolio Manager for Van Kampen American Capital Asset Management,
Inc.
o Kenneth A. Zschappel, Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been associated with the
advisor and/or its affiliates since 1990."
