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AIM SPECIAL OPPORTUNITIES FUNDS
AIM MID CAP OPPORTUNITIES FUND
Supplement dated March 8, 2000
to the Prospectus dated January 1, 2000
as supplemented February 25, 2000
This supplement supersedes and replaces in its entirety the supplement dated
February 25, 2000.
AIM Mid Cap Opportunities Fund (the "fund") is reaching a size in assets under
management where it has become increasingly difficult to satisfy the fund's
investment objective and strategies, which include a dynamic hedging program.
This difficulty is due to the limited size of the market for medium-capitalized
common stocks available for hedging purposes. For this reason, the fund will be
closed as soon as reasonably practicable after the fund has assets under
management of $750 million (the "closing date"). Existing shareholders of the
fund who maintain open accounts will be permitted to continue to make
additional investments in the fund.
The fund will accept properly completed Account Applications postmarked by the
close of business on the closing date. IRA transfers or rollovers will be
accepted if a properly completed IRA application and transfer form are
postmarked by the close of business on the closing date. New Account
Applications, IRA applications or IRA transfer forms received by fax will not
be accepted.
During this period that the fund is closed to new investors, the distribution
and service (12b-1) fee for Class A shares will be reduced from 0.35% to 0.25%
of the fund's average daily net assets attributable to the Class A shares. The
12b-1 fees for Class B and Class C shares will not be reduced during this
closed period.
The fund may resume sales of shares to new investors at some future date if the
Board of Trustees determines that it would be in the best interest of
shareholders.
The following replaces in its entirety the information appearing under the
heading "FUND MANAGEMENT - PORTFOLIO MANAGERS" on page 4 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 1998 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 C. Leslie, 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 1996, he ran his
own investment firm, Gamma Investment Management until it merged
with Darien Capital Management where he served as Portfolio
Manager and Partner until 1998.
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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 for Van Wagoner Capital Management. From 1995 to
1997, he was Associate Portfolio Manager at Van Kampen American
Capital Asset Management, Inc. From 1993 to 1995, he was Assistant
Portfolio Manager with Hellman, Jordan Management Company.
o Charles D. Scavone, Senior Portfolio Manager, who has been
responsible for the fund since 1998 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 1998 and has been associated with
the advisor and/or its affiliates since 1990."
