AIM SPECIAL OPPORTUNITIES FUNDS
497, 2000-11-29
Previous: PROFESSIONAL DETAILING INC, 424B3, 2000-11-29
Next: AIM SPECIAL OPPORTUNITIES FUNDS, 497J, 2000-11-29



<PAGE>   1

      AIM LARGE CAP
      OPPORTUNITIES FUND

      --------------------------------------------------------------------------

      AIM Large Cap Opportunities Fund seeks long-term growth of capital.

      PROSPECTUS
                                                     AIM--Registered Trademark--
      NOVEMBER 28, 2000

                                     This prospectus contains important
                                     information about the Class A, B and C
                                     shares of the fund. Please read it
                                     before investing and keep it for
                                     future reference.

                                     As with all other mutual fund
                                     securities, the Securities and
                                     Exchange Commission has not approved
                                     or disapproved these securities or
                                     determined whether the information
                                     in this prospectus is adequate or
                                     accurate. Anyone who tells you
                                     otherwise is committing a crime.

                                     The fund has been closed to new
                                     investors since September 29, 2000.

                                     An investment in the fund:

                                        - is not FDIC insured;

                                        - may lose value; and

                                        - is not guaranteed by a bank.

[AIM LOGO APPEARS HERE]                                  INVEST WITH DISCIPLINE
--Registered Trademark--                                --Registered Trademark--
<PAGE>   2
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

TABLE OF CONTENTS
--------------------------------------------------------------------------------

<TABLE>
<S>                                      <C>
INVESTMENT OBJECTIVE AND STRATEGIES          1
- - - - - - - - - - - - - - - - - - - - - - - -

PRINCIPAL RISKS OF INVESTING IN THE FUND     1
- - - - - - - - - - - - - - - - - - - - - - - -

FEE TABLE AND EXPENSE EXAMPLE                3
- - - - - - - - - - - - - - - - - - - - - - - -

Fee Table                                    3

Expense Example                              3

FUND MANAGEMENT                              4
- - - - - - - - - - - - - - - - - - - - - - - -

The Advisor                                  4

Advisor Compensation                         4

Portfolio Managers                           4

OTHER INFORMATION                            4
- - - - - - - - - - - - - - - - - - - - - - - -

Sales Charges                                4

Dividends and Distributions                  4

Fund Closure                                 4

FINANCIAL HIGHLIGHTS                         5
- - - - - - - - - - - - - - - - - - - - - - - -

SHAREHOLDER INFORMATION                    A-1
- - - - - - - - - - - - - - - - - - - - - - - -

Choosing a Share Class                     A-1

Purchasing Shares                          A-3

Redeeming Shares                           A-4

Exchanging Shares                          A-6

Pricing of Shares                          A-7

Taxes                                      A-7

OBTAINING ADDITIONAL INFORMATION    Back Cover
- - - - - - - - - - - - - - - - - - - - - - - -
</TABLE>

The AIM Family of Funds, The AIM Family of Funds and Design (i.e., the AIM
logo), AIM and Design, AIM, AIM Funds, AIM Funds and Design, AIM Investor, AIM
LINK, AIM Institutional Funds, aimfunds.com, La Familia AIM de Fondos, La
Familia AIM de Fondos and Design, Invierta con DISCIPLINA and Invest with
DISCIPLINE are registered service marks and AIM Bank Connection and AIM Internet
Connect are service marks of A I M Management Group Inc.

No dealer, salesperson or any other person has been authorized to give any
information or to make any representations other than those contained in this
prospectus, and you should not rely on such other information or
representations.
<PAGE>   3
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

INVESTMENT OBJECTIVE AND STRATEGIES
--------------------------------------------------------------------------------

The fund's investment objective is long-term growth of capital. The fund's
investment objective may be changed by the fund's Board of Trustees without
shareholder approval.

  The fund seeks to meet its objective by investing, normally, at least 65% of
its total assets in securities of companies involving a special opportunity,
i.e., an unusual development in a company or group of companies. A special
opportunity may involve:

  -  a technological advance or discovery, the offering of a new or unique
     product or service, or changes in consumer demand or consumption forecasts;

  -  changes in the competitive outlook or growth potential of an industry or a
     company within an industry, including changes in scope or nature of foreign
     competition or development of an emerging industry;

  -  new or changed management, or material changes in management policies or
     corporate structure;

  -  significant economic or political occurrences, including changes in foreign
     or domestic import and tax laws or other regulations; or

  -  other events, including a major change in demographic patterns, favorable
     litigation settlements, or natural disasters.

  The fund will invest at least 65% of its total assets in equity securities, or
securities convertible into equity securities, of companies with market
capitalizations, at the time of purchase, within the range of market
capitalizations of companies included in the S&P 500--Registered Trademark--
Index. The S&P 500--Registered Trademark-- Index measures the performance of the
stocks of the largest 500 U.S. companies. The fund may also invest up to 25% of
its total assets in foreign securities.

  The fund may sell put and covered call options, and purchase put and call
options, on securities, securities indices and foreign currencies. An option is
a contract that gives the holder the right to buy (call) or sell (put) a certain
number of shares of a specific security at a specified price (exercise price)
for a limited amount of time. One method of covering a call option is for the
fund to own the shares it would have to deliver if the holder of the call option
exercised the option. The fund may invest in options for hedging purposes, i.e.,
to protect the value of its portfolio. The fund may sell securities short, which
means selling a security it does not yet own in anticipation of purchasing the
same security at a later date at a lower price. The fund may also borrow money
to purchase securities, a practice known as "leveraging."

  The portfolio managers purchase securities of companies involving a special
opportunity that they believe have the potential for above-average growth in
revenues and earnings and have favorable prospects for future growth. The
portfolio managers consider whether to sell a particular security when any of
those factors materially changes.

  The fund is non-diversified. This means that with respect to 50% of its
assets, it is permitted to invest more than 5% of its assets in the securities
of any one issuer.

  In anticipation of or in response to adverse market conditions, for cash
management purposes or for defensive purposes, the fund may temporarily hold all
or a portion of its assets in cash, money market instruments, shares of
affiliated money market funds, bonds or other debt securities. As a result, the
fund may not achieve its investment objective.

  The fund may engage in active or frequent trading of portfolio securities to
achieve its investment objective. If the fund does trade in this way, it may
incur increased transaction costs and brokerage commissions, both of which can
lower the actual return on your investment. Active trading may also increase
short-term capital gains and losses, which may affect the taxes you have to pay.

PRINCIPAL RISKS OF INVESTING IN THE FUND
--------------------------------------------------------------------------------

There is a risk that you could lose all or a portion of your investment in the
fund. The value of your investment in the fund will go up and down with the
prices of the securities in which the fund invests. The prices of equity
securities change in response to many factors including the historical and
prospective earnings of the issuer, the value of its assets, general economic
conditions, interest rates, investor perceptions and market liquidity.

  If the fund purchases a put or call option that expires without value, the
fund will have incurred an expense in the amount of the cost of the option. If
the fund sells a put option that is exercised, the fund will have to purchase
the security at a price greater than its market value. If the fund sells a call
option that is exercised, the fund will have to sell the security at a price
lower than its market value.

  If the fund borrows money to buy securities (leverages) and the prices of
those securities decrease, or if the cost of borrowing exceeds any increases in
the prices of those securities, the net asset value of the fund's shares will
decrease faster than if the fund had not used leverage. To repay borrowings, the
fund may have to sell securities at a time and at a price that is unfavorable to
the fund. Interest on borrowings is an expense the fund would not otherwise
incur.

  If the fund sells a security short, and the security increases in value, the
fund will have to pay the higher price to purchase the security. Since there is
no limit on how much the price of the

                                        1
<PAGE>   4
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

security can increase, the fund's exposure is unlimited. The more the fund pays
to purchase the security, the more it will lose on the transaction, and the more
the price of your shares will be affected. The fund will also incur transaction
costs to engage in this practice.

  The values of the convertible securities in which the fund may invest also
will be affected by market interest rates, the risk that the issuer may default
on interest or principal payments and the value of the underlying common stock
into which these securities may be converted. Specifically, since these types of
convertible securities pay fixed interest and dividends, their values may fall
if market interest rates rise and rise if market interest rates fall.
Additionally, an issuer may have the right to buy back certain of the
convertible securities at a time and at a price that is unfavorable to the fund.

  Foreign securities have additional risks, including exchange rate changes,
political and economic upheaval, the relative lack of information about these
companies, relatively low market liquidity and the potential lack of strict
financial and accounting controls and standards.

  Because it is non-diversified, the fund may invest in fewer issuers than if it
were a diversified fund. Thus, the value of the fund's shares may vary more
widely, and the fund may be subject to greater market and credit risk, than if
the fund invested more broadly.

  An investment in the fund is not a deposit of a bank and is not insured or
guaranteed by the Federal Deposit Insurance Corporation or any other government
agency.

                                        2
<PAGE>   5
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

FEE TABLE AND EXPENSE EXAMPLE
--------------------------------------------------------------------------------

FEE TABLE

This table describes the fees and expenses that you may pay if you buy and hold
shares of the fund:

<TABLE>
<CAPTION>
SHAREHOLDER FEES
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
(fees paid directly from
your investment)               CLASS A   CLASS B   CLASS C
-----------------------------------------------------------
<S>                             <C>        <C>      <C>
Maximum Sales Charge (Load)
Imposed on Purchases
(as a percentage of
offering price)                 5.50%      None     None

Maximum Deferred
Sales Charge (Load)
(as a percentage of
original purchase
price or redemption
proceeds, whichever is less)   None(1)     5.00%    1.00%
-------------------------------------------------------
</TABLE>

<TABLE>
<CAPTION>
ANNUAL FUND OPERATING EXPENSES
- - - - - - - - - - - - - - - - - - - - - - - - - - - -
(expenses that are deducted
from fund assets)       CLASS A   CLASS B   CLASS C
-------------------------------------------------------
<S>                     <C>       <C>       <C>
Management Fees(2)        1.50%     1.50%     1.50%

Distribution and/or
Service (12b-1) Fees      0.35      1.00      1.00

  Other Expenses          0.57      0.61      0.61

  Dividend Expenses
  Attributable to
  Securities Sold
  Short                   0.05      0.05      0.05

  Interest                0.02      0.02      0.02

Total Other Expenses      0.64      0.68      0.68

Total Annual Fund
Operating Expenses(3)     2.49      3.18      3.18

Fee Waiver(4)             0.10        --        --

Net Expenses              2.39      3.18      3.18
-------------------------------------------------------
</TABLE>

(1) If you buy $1,000,000 or more of Class A shares and redeem these shares
    within 18 months from the date of purchase, you may pay a 1% contingent
    deferred sales charge (CDSC) at the time of redemption.
(2) The fund's base management fee is 1.50%. Effective January 1, 2001, this fee
    is subject to a maximum 1.00% performance adjustment upward or downward. As
    a result, beginning January 1, 2001, the fund could pay a management fee
    that ranges from 0.50% to 2.50% of average daily net assets based on its
    performance.
(3) During the year the advisor voluntarily waived advisory fees. Total annual
    fund operating expenses net of this waiver were 2.41%, 3.10%, and 3.10% for
    Class A, Class B and Class C respectively.
(4) The distributor has contractually agreed to limit Class A shares' Rule 12b-1
    distribution plan payments to 0.25%. Waiver has been restated to reflect
    this agreement.

You may also be charged a transaction or other fee by the financial institution
managing your account.

  As a result of 12b-1 fees, long-term shareholders in the fund may pay more
than the maximum permitted initial sales charge.

EXPENSE EXAMPLE

This example is intended to help you compare the costs of investing in different
classes of the fund with the cost of investing in other mutual funds.

  The example assumes that you invest $10,000 in the fund for the time periods
indicated and then redeem all of your shares at the end of those periods. The
example also assumes that your investment has a 5% return each year and that the
fund's operating expenses remain the same. To the extent fund expenses are
waived your expenses will be lower. Although your actual returns and costs may
be higher or lower, based on these assumptions your costs would be:

<TABLE>
<CAPTION>
         1 YEAR   3 YEARS   5 YEARS   10 YEARS
----------------------------------------------
<S>      <C>      <C>       <C>       <C>
Class A   $788    $1,283    $1,803     $3,221
Class B    821     1,280     1,864      3,327
Class C    421       980     1,664      3,485
----------------------------------------------
</TABLE>

You would pay the following expenses if you did not redeem your shares:

<TABLE>
<CAPTION>
         1 YEAR   3 YEARS   5 YEARS   10 YEARS
----------------------------------------------
<S>      <C>      <C>       <C>       <C>
Class A   $788    $1,283    $1,803     $3,221
Class B    321       980     1,664      3,327
Class C    321       980     1,664      3,485
----------------------------------------------

</TABLE>

                                        3
<PAGE>   6
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

FUND MANAGEMENT
--------------------------------------------------------------------------------

THE ADVISOR

A I M Advisors, Inc. (the advisor) serves as the fund's investment advisor and
is responsible for its day-to-day management. The advisor is located at 11
Greenway Plaza, Suite 100, Houston, Texas 77046-1173. The advisor supervises all
aspects of the fund's operations and provides investment advisory services to
the fund, including obtaining and evaluating economic, statistical and financial
information to formulate and implement investment programs for the fund.

  The advisor has acted as an investment advisor since its organization in 1976.
Today, the advisor, together with its subsidiaries, advises or manages over 120
investment portfolios, including the fund, encompassing a broad range of
investment objectives.

ADVISOR COMPENSATION

The advisor receives a management fee from the fund that is comprised of two
components. The first component is an annual base fee equal to 1.50% of the
fund's average daily net assets. The second component is a performance
adjustment that either increases or decreases the base fee, depending on how the
fund has performed relative to the S&P 500--Registered Trademark-- Index.
Performance adjustments will begin on January 1, 2001.

  As a result, beginning January 1, 2001, the maximum performance adjustment
upward or downward is 1.00% annually. Depending on the performance of the fund,
during any fiscal year the advisor may receive as much as 2.50% or as little as
0.50% in management fees.

  During the fiscal period ended July 31, 2000 the advisor received compensation
of 1.50% of average daily net assets.

PORTFOLIO MANAGERS

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 are

- 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.

- 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.

- 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.

- 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.

- 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.

- 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.

OTHER INFORMATION
--------------------------------------------------------------------------------

SALES CHARGES

Purchases of Class A shares of AIM Large Cap Opportunities Fund are subject to
the maximum 5.50% initial sales charge as listed under the heading "Initial
Sales Charges" in the "Shareholder Information--Choosing a Share Class" section
of this prospectus. Purchases of Class B and Class C shares are subject to the
contingent deferred sales charges listed in that section.

DIVIDENDS AND DISTRIBUTIONS

The fund expects that its distributions, if any, will consist primarily of
capital gains.

DIVIDENDS

The fund generally declares and pays dividends, if any, annually.

CAPITAL GAINS DISTRIBUTIONS

The fund generally distributes long-term and short-term capital gains, if any,
annually.

FUND CLOSURE

Due to the sometimes limited size of the market for large-capitalized common
stocks available for hedging purposes and that meet the investment criteria for
the fund, the fund discontinued public sales of its shares to new investors on
September 29, 2000. Existing shareholders of the fund who maintain open accounts
will be permitted to continue to make additional investments in the fund.

  During this closed period, the fund may impose different standards for
additional investments. Also, during this closed period the fund will continue
to pay Rule 12b-1 fees, however, the Rule 12b-1 fees for Class A shares will be
reduced from 0.35% to 0.25% of the fund's average daily net assets attributable
to Class A shares. The Rule 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.

                                        4
<PAGE>   7
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

FINANCIAL HIGHLIGHTS
--------------------------------------------------------------------------------

The financial highlights table is intended to help you understand the fund's
financial performance. Certain information reflects financial results for a
single fund share.

  The total returns in the table represent the rate that an investor would have
earned (or lost) on an investment in the fund (assuming reinvestment of all
dividends and distributions).

  This information has been audited by KPMG LLP, whose report, along with the
fund's financial statements, is included in the fund's annual report, which is
available upon request.

  Total return information in this table has been affected by special market
factors, including the fund's investments in initial public offerings (IPOs),
which had a magnified impact on the fund due to its small asset base. There is
no guarantee that, as the fund's assets grow, it will continue to experience
substantially similar performance.

<TABLE>
<CAPTION>
                                                                    CLASS A
                                                               -----------------
                                                                 DECEMBER 30,
                                                                     1999
                                                                    THROUGH
                                                                 JULY 31, 2000
                                                               -----------------
<S>                                                            <C>
Net asset value, beginning of year                                 $  10.00
------------------------------------------------------------       --------
Income from investment operations:
  Net investment income (loss)                                        (0.01)
------------------------------------------------------------       --------
  Net gains on securities (both realized and unrealized)               3.13
============================================================       ========
    Total from investment operations                                   3.12
============================================================       ========
Net asset value, end of year                                       $  13.12
============================================================       ========
------------------------------------------------------------       --------
Total return(a)                                                       31.20%
============================================================       ========
------------------------------------------------------------       --------
Ratios/supplemental data:
Net assets, end of year (000s omitted)                             $138,205
============================================================       ========
------------------------------------------------------------       --------
Ratio of expenses to average net assets (including interest
  expense and dividends on short sales expense):
  With fee waivers                                                     2.41%(b)
------------------------------------------------------------       --------
  Without fee waivers                                                  2.49%(b)
============================================================       ========
------------------------------------------------------------       --------
Ratio of expenses to average net assets (excluding interest
  expense and dividends on short sales expense):
  With fee waivers                                                     2.34%(b)
------------------------------------------------------------       --------
  Without fee waivers                                                  2.42%(b)
============================================================       ========
------------------------------------------------------------       --------
Ratio of net investment income (loss) to average net assets           (0.20)%(b)
============================================================       ========
------------------------------------------------------------       --------
Ratio of interest expense and dividends on short sales
  expense to average net assets                                        0.07%(b)
============================================================       ========
------------------------------------------------------------       --------
Portfolio turnover rate                                                 125%
============================================================       ========
------------------------------------------------------------       --------
</TABLE>

(a)  Does not deduct sales charges and is not annualized for periods less than
     one year.
(b)  Ratios are annualized and based on average net assets of $47,989,902.

                                        5
<PAGE>   8
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

FINANCIAL HIGHLIGHTS (CONTINUED)
--------------------------------------------------------------------------------

<TABLE>
<CAPTION>
                                                                  CLASS B          CLASS C
                                                               --------------   --------------
                                                               MARCH 31, 2000   MARCH 31, 2000
                                                                  THROUGH          THROUGH
                                                               JULY 31, 2000    JULY 31, 2000
                                                               --------------   --------------
<S>                                                            <C>              <C>
Net asset value, beginning of year                                $  12.81         $  12.81
------------------------------------------------------------      --------         --------
Income from investment operations:
  Net investment income (loss)                                       (0.02)           (0.02)
------------------------------------------------------------      --------         --------
  Net gains on securities (both realized and unrealized)              0.31             0.30
============================================================      ========         ========
  Total from investment operations                                    0.29             0.28
============================================================      ========         ========
Net asset value, end of year                                      $  13.10         $  13.09
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Total return(a)                                                       2.26%            2.19%
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Ratios/supplemental data:
Net assets, end of year (000s omitted)                            $102,795         $ 34,972
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Ratio of expenses to average net assets (including interest
  expense and dividends on short sales expense)                       3.18%(b)         3.18%(b)
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Ratio of expenses to average net assets (excluding interest
  expense and dividends on short sales expense)                       3.11%(b)         3.11%(b)
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Ratio of net investment income (loss) to average net assets          (0.89)%(b)       (0.89)%(b)
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Ratio of interest expense and dividends on short sales
  expense to average net assets                                       0.07%(b)         0.07%(b)
============================================================      ========         ========
------------------------------------------------------------      --------         --------
Portfolio turnover rate                                                125%             125%
============================================================      ========         ========
------------------------------------------------------------      --------         --------
</TABLE>

(a)  Does not deduct contingent deferred sales charges and is not annualized for
     periods less than one year.
(b)  Ratios are annualized and based on average net assets of $48,326,013 and
     $16,408,451 for Class B and Class C, respectively.
(c)  Ratios of expenses to average net assets with fee waivers and/or expense
     reimbursements (including interest expense and dividends on short sales
     expense) were 3.10% for Class B and Class C, respectively.
(d)  Ratios of expenses to average net assets with fee waivers and/or expense
     reimbursements (excluding interest expense and dividends on short sales
     expense) were 3.03% for Class B and Class C, respectively.

                                        6
<PAGE>   9

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

SHAREHOLDER INFORMATION
--------------------------------------------------------------------------------

In addition to the fund, A I M Advisors, Inc. serves as investment advisor to
many other mutual funds (the AIM Funds). The following information is about AIM
Large Cap Opportunities Fund, AIM Mid Cap Opportunities Fund and AIM Small Cap
Opportunities Fund (the Special Opportunities Funds).

CHOOSING A SHARE CLASS

The Special Opportunities Funds have multiple classes of shares, each class
representing an interest in the same portfolio of investments. When choosing a
share class, you should consider the factors below:

<TABLE>
<CAPTION>
CLASS A                              CLASS B                              CLASS C
---------------------------------------------------------------------------------------------------------
<S>                                  <C>                                  <C>
- Initial sales charge               - No initial sales charge            - No initial sales charge

- Reduced or waived initial sales    - Contingent deferred sales          - Contingent deferred sales
  charge for certain purchases(1)      charge on redemptions within         charge on redemptions within
                                       six years                            one year(1)

- Lower distribution and service     - 12b-1 fee of 1.00%                 - 12b-1 fee of 1.00%
  (12b-1) fee than Class B or
  Class C shares (See "Fee Table
  and Expense Example")
                                     - Converts to Class A shares at      - Does not convert to Class A
                                       the end of the month which is        shares
                                       eight years after the date on
                                       which shares were purchased
                                       along with a pro rata portion
                                       of its reinvested dividends and
                                       distributions

- Generally more appropriate for     - Purchase orders limited to         - Generally more appropriate
  long-term investors                  amounts less than $250,000           for short-term investors
</TABLE>

      (1) AIM Small Cap Opportunities Fund will not accept any single purchase
          order in excess of $250,000.

--------------------------------------------------------------------------------

DISTRIBUTION AND SERVICE (12b-1) FEES

The Special Opportunities Funds have adopted 12b-1 plans that allow them to pay
distribution fees to A I M Distributors, Inc. (the distributor) for the sale and
distribution of their shares and fees for services provided to shareholders, all
or a substantial portion of which are paid to the dealer of record. Because the
Special Opportunities Funds pay these fees out of their assets on an ongoing
basis, over time these fees will increase the cost of your investment and may
cost you more than paying other types of sales charges.

                                      A-1                            SOF--11/00
<PAGE>   10

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

SALES CHARGES

Sales charges on the Special Opportunities Funds are detailed below. As used
below, the term "offering price" with respect to Class A shares includes the
initial sales charge.

INITIAL SALES CHARGES

The Special Opportunities Funds are subject to the following initial sales
charges:

<TABLE>
<CAPTION>
                                         INVESTOR'S
                                        SALES CHARGE
                                 ----------------------------
AMOUNT OF INVESTMENT               AS A % OF       AS A % OF
IN SINGLE TRANSACTION(1)         OFFERING PRICE   INVESTMENT
-------------------------------------------------------------
<S>                              <C>              <C>
              Less than $  25,000      5.50%         5.82%
 $ 25,000 but less than $  50,000      5.25          5.54
 $ 50,000 but less than $ 100,000      4.75          4.99
 $100,000 but less than $ 250,000      3.75          3.90
 $250,000 but less than $ 500,000      3.00          3.09
$500,000 but less than $1,000,000      2.00          2.04
-------------------------------------------------------------
</TABLE>

(1) AIM Small Cap Opportunities Fund will not accept any single purchase order
    in excess of $250,000.

CONTINGENT DEFERRED SALES CHARGES FOR CLASS A SHARES

You can purchase $1,000,000 or more of Class A shares at net asset value.
However, if you purchase shares of that amount, they will be subject to a
contingent deferred sales charge (CDSC) of 1% if you redeem them prior to 18
months after the date of purchase. The distributor may pay a dealer concession
and/or a service fee for purchases of $1,000,000 or more.

CONTINGENT DEFERRED SALES CHARGES FOR
CLASS B AND CLASS C SHARES

You can purchase Class B and Class C shares at their net asset value per share.
However, when you redeem them, they are subject to a CDSC in the following
percentages:

<TABLE>
<CAPTION>
YEAR SINCE
PURCHASE MADE              CLASS B             CLASS C
-----------------------------------------------------------
<S>                   <C>                 <C>
First                          5%                1%
Second                         4                None
Third                          3                None
Fourth                         3                None
Fifth                          2                None
Sixth                          1                None
Seventh and following       None                None
-----------------------------------------------------------
</TABLE>

COMPUTING A CDSC

The CDSC on redemptions of shares is computed based on the lower of their
original purchase price or current market value, net of reinvested dividends and
capital gains distributions. In determining whether to charge a CDSC, we will
assume that you have redeemed shares on which there is no CDSC first and, then,
shares in the order of purchase.

REDUCED SALES CHARGES
AND SALES CHARGE EXCEPTIONS

You may qualify for reduced sales charges or sales charge exceptions. To qualify
for these reductions or exceptions, you or your financial consultant must
provide sufficient information at the time of purchase to verify that your
purchase qualifies for such treatment.

REDUCED SALES CHARGES

You may be eligible to buy Class A shares at reduced initial sales charge rates
under Rights of Accumulation or Letters of Intent under certain circumstances.

Rights of Accumulation

You may combine your new purchases of Class A shares with Class A shares
currently owned for the purpose of qualifying for the lower initial sales charge
rates that apply to larger purchases. The applicable initial sales charge for
the new purchase is based on the total of your current purchase and the current
value of all Class A shares you own.

Letters of Intent

Under a Letter of Intent (LOI), you commit to purchase a specified dollar amount
of Class A shares of the AIM Funds during a 13-month period. The amount you
agree to purchase determines the initial sales charge you pay. If the full face
amount of the LOI is not invested by the end of the 13-month period, your
account will be adjusted to the higher initial sales charge level for the amount
actually invested.

INITIAL SALES CHARGE EXCEPTIONS

You will not pay initial sales charges

- on shares purchased by reinvesting dividends and distributions;

- when exchanging shares among certain AIM Funds;

- when using the reinstatement privilege; and

- when a merger, consolidation, or acquisition of assets of an AIM Fund occurs.

CONTINGENT DEFERRED SALES CHARGE (CDSC) EXCEPTIONS

You will not pay a CDSC

- if you redeem Class B shares you held for more than six years;

- if you redeem Class C shares you held for more than one year;

- if you redeem shares acquired through reinvestment of dividends and
  distributions; and

- on increases in the net asset value of your shares.

There may be other situations when you may be able to purchase or redeem shares
at reduced or without sales charges. Consult the Fund's Statement of Additional
Information for details.

SOF--11/00                            A-2
<PAGE>   11

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

PURCHASING SHARES

MINIMUM INVESTMENTS PER SPECIAL OPPORTUNITIES FUND ACCOUNT

The minimum initial investment for Special Opportunities Fund accounts is
$10,000. The minimum subsequent investment is $1,000. The maximum amount for a
single purchase order of AIM Small Cap Opportunities Fund is $250,000.

HOW TO PURCHASE SHARES

You may purchase shares using one of the options below.

PURCHASE OPTIONS
<TABLE>
<CAPTION>
-----------------------------------------------------------------------------------------------------------

                                OPENING AN ACCOUNT                    ADDING TO AN ACCOUNT
-----------------------------------------------------------------------------------------------------------
<S>                             <C>                                   <C>
Through a Financial Consultant  Contact your financial consultant.    Same
By Mail                         Mail completed account application    Mail your check and the remittance
                                and purchase payment to the transfer  slip from your confirmation statement
                                agent,                                to the transfer agent.
                                A I M Fund Services, Inc.,
                                P.O. Box 4739,
                                Houston, TX 77210-4739.

By Wire                         Mail completed account application to Call the transfer agent to receive a
                                the transfer agent. Call the transfer reference number. Then, use the wire
                                agent at (800) 959-4246 to receive a  instructions at left.
                                reference number. Then, use the
                                following wire instructions:
                                Beneficiary Bank ABA/Routing #:
                                113000609
                                Beneficiary Account Number:
                                00100366807
                                Beneficiary Account Name: A I M Fund
                                Services, Inc.
                                RFB: Fund Name, Reference #
                                OBI: Your Name, Account #

By AIM Bank Connection(SM)      Open your account using one of the    Mail completed AIM Bank Connection
                                methods described above.              form to the transfer agent. Once the
                                                                      transfer agent has received the form,
                                                                      call the transfer agent to place your
                                                                      purchase order.

By AIM Internet Connect(SM)     Open your account using one of the    Select the AIM Internet Connect
                                methods described above.              option on your completed account
                                                                      application or complete an AIM
                                                                      Internet Connect Authorization Form.
                                                                      Mail the application or form to the
                                                                      transfer agent. Once your request for
                                                                      this option has been processed (which
                                                                      may take up to 10 days), you may
                                                                      place your purchase order at
                                                                      www.aimfunds.com. The maximum
                                                                      purchase amount per transaction is
                                                                      $100,000. You may not purchase shares
                                                                      in AIM prototype retirement accounts
                                                                      on the internet.
-----------------------------------------------------------------------------------------------------------
</TABLE>

SPECIAL PLANS

AUTOMATIC INVESTMENT PLAN

You can arrange for periodic investments in any of the Special Opportunities
Funds by authorizing the Fund to withdraw the amount of your investment from
your bank account on a day or dates you specify and in an amount of at least
$1,000. You may stop the Automatic Investment Plan at any time by giving the
transfer agent notice ten days prior to your next scheduled withdrawal.

DOLLAR COST AVERAGING

Dollar Cost Averaging allows you to make automatic monthly or quarterly
exchanges, if permitted, from your Special Opportunities Fund account to one or
more other AIM Fund accounts with the identical registration. The account from
which exchanges are to be made must have a minimum balance of $5,000 before you
can use this option. Exchanges will occur on (or about) the 10th or 25th day of
the month, whichever you specify, in the amount you specify. The minimum amount
you can exchange to another Special Opportunities Fund is $1,000. The minimum
amount you can exchange to any other AIM Fund is $50.

AUTOMATIC DIVIDEND INVESTMENT

All of your dividends and distributions may be paid in cash or invested in any
AIM Fund at net asset value. Unless you specify otherwise, your dividends and
distributions will automatically be reinvested in the same AIM Fund. You may
invest your dividends and distributions (1) into another AIM Fund in the same
class of shares; or (2) from Class A shares into AIM Cash Reserve Shares of AIM
Money Market Fund, or vice versa.

                                      A-3                            SOF--11/00
<PAGE>   12

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

  You must comply with the following requirements to be eligible to invest your
dividends and distributions in shares of another AIM Fund:

(1) Your account balance (a) in the AIM Fund paying the dividend must be at
    least $5,000; or (b) in the AIM Fund receiving the dividend must be at least
    $500;

(2) Both accounts must have identical registration information; and

(3) You must have completed an authorization form to reinvest dividends into
    another AIM Fund.

PORTFOLIO REBALANCING PROGRAM

If you have at least $5,000 in your account, you may participate in the
Portfolio Rebalancing Program. Under this Program, you can designate how the
total value of your AIM Fund holdings should be rebalanced, on a percentage
basis, between two and ten of your AIM Funds on a quarterly, semiannual or
annual basis. Your portfolio will be rebalanced through the exchange of shares
in one or more of your AIM Funds for shares of the same class of one or more
other AIM Funds in your portfolio. If you wish to participate in the Program,
make changes or cancel the Program, the transfer agent must receive your request
to participate, changes, or cancellation in good order at least five business
days prior to the next rebalancing date, which is normally the 28th day of the
last month of the period you choose. You may realize taxable gains from these
exchanges. We may modify, suspend or terminate the Program at any time on 60
days' prior written notice.

RETIREMENT PLANS

Shares of most of the AIM Funds can be purchased through tax-sheltered
retirement plans made available to corporations, individuals and employees of
non-profit organizations and public schools. A plan document must be adopted to
establish a retirement plan. You may use AIM Funds-sponsored retirement plans,
which include IRAs, Education IRAs, Roth IRAs, 403(b) plans, 401(k) plans,
SIMPLE IRA plans, SEP/SARSEP plans and Money Purchase/Profit Sharing plans, or
another sponsor's retirement plan. The plan custodian of the AIM Funds-sponsored
retirement plan assesses an annual maintenance fee of $10. Contact your
financial consultant for details.

REDEEMING SHARES

REDEMPTION FEES

Generally, we will not charge you any fees to redeem your shares; however, your
broker or financial consultant may charge service fees for handling redemption
transactions. Your shares also may be subject to a contingent deferred sales
charge (CDSC).

REDEMPTION OF CLASS B SHARES OR CLASS C
SHARES ACQUIRED BY EXCHANGE FROM AIM CASH
RESERVE SHARES OF AIM MONEY MARKET FUND

We will begin the holding period for purposes of calculating the CDSC on Class B
shares or Class C shares acquired by exchange from AIM Cash Reserve Shares of
AIM Money Market Fund at the time of the exchange into Class B shares or Class C
shares.

REDEMPTION OF CLASS B SHARES ACQUIRED BY
EXCHANGE FROM AIM FLOATING RATE FUND

If you redeem Class B shares you acquired by exchange via a tender offer by AIM
Floating Rate Fund, the early withdrawal charge applicable to shares of AIM
Floating Rate Fund will be applied instead of the CDSC normally applicable to
Class B shares.

SOF--11/00                            A-4
<PAGE>   13

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

HOW TO REDEEM SHARES
--------------------------------------------------------------------------------

<TABLE>
<S>                           <C>
Through a Financial           Contact your financial consultant.
  Consultant

By Mail                       Send a written request to the transfer agent. Requests must
                              include (1) original signatures of all registered owners;
                              (2) the name of the AIM Fund and your account number; (3) if
                              the transfer agent does not hold your shares, endorsed share
                              certificates or share certificates accompanied by an
                              executed stock power; and (4) signature guarantees, if
                              necessary (see below). The transfer agent may require that
                              you provide additional information, such as corporate
                              resolutions or powers of attorney, if applicable. If you are
                              redeeming from an IRA account, you must include a statement
                              of whether or not you are at least 59 1/2 years old and
                              whether you wish to have federal income tax withheld from
                              your proceeds. The transfer agent may require certain other
                              information before you can redeem from an employer-sponsored
                              retirement plan. Contact your employer for details.

By Telephone                  Call the transfer agent. You will be allowed to redeem by
                              telephone if (1) the proceeds are to be mailed to the
                              address on record (if there has been no change communicated
                              to us within the last 30 days) or transferred electronically
                              to a pre-authorized checking account; (2) you do not hold
                              physical share certificates; (3) you can provide proper
                              identification information; (4) the proceeds of the
                              redemption do not exceed $50,000; and (5) you have not
                              previously declined the telephone redemption privilege.
                              Certain accounts, including retirement accounts and 403(b)
                              plans, may not be redeemed by telephone. The transfer agent
                              must receive your call during the hours of the customary
                              trading session of the New York Stock Exchange (NYSE) in
                              order to effect the redemption at that day's closing price.

By AIM Internet Connect       Place your redemption request at www.aimfunds.com. You will
                              be allowed to redeem by internet if (1) you do not hold
                              physical share certificates; (2) you can provide proper
                              identification information; (3) the proceeds of the
                              redemption do not exceed $50,000; and (4) you have
                              established the internet trading option. AIM prototype
                              retirement accounts may not be redeemed on the internet. The
                              transfer agent must confirm your transaction during the
                              hours of the customary trading session of the NYSE in order
                              to effect the redemption at that day's closing price.
</TABLE>

--------------------------------------------------------------------------------

TIMING AND METHOD OF PAYMENT

We normally will send out checks within one business day, and in any event no
more than seven days, after we accept your request to redeem. If you redeem
shares recently purchased by check, you will be required to wait up to ten
business days before we will send your redemption proceeds. This delay is
necessary to ensure that the purchase check has cleared.

REDEMPTION BY MAIL

If you mail us a request in good order to redeem your shares, we will mail you a
check in the amount of the redemption proceeds to the address on record with us.
If your request is not in good order, you may have to provide us with additional
documentation in order to redeem your shares.

REDEMPTION BY TELEPHONE

If you redeem by telephone, we will mail you a check in the amount of the
redemption proceeds to your address of record (if there has been no change
communicated to the transfer agent within the previous 30 days) or transmit them
electronically to your pre-authorized bank account. We use reasonable procedures
to confirm that instructions communicated by telephone are genuine and are not
liable for telephone instructions that are reasonably believed to be genuine.

REDEMPTION BY INTERNET

If you redeem by internet, we will transmit your redemption proceeds
electronically to your pre-authorized bank account. We use reasonable procedures
to confirm that instructions communicated by internet are genuine and are not
liable for internet instructions that are reasonably believed to be genuine.

PAYMENT FOR SYSTEMATIC WITHDRAWALS

You may arrange for regular monthly or quarterly withdrawals from your account
of at least $50. You also may make annual withdrawals if you own Class A shares.
We will redeem enough shares from your account to cover the amount withdrawn.
You must have an account balance of at least $5,000 to establish a Systematic
Withdrawal Plan. You can stop this plan at any time by giving ten days prior
notice to the transfer agent.

SIGNATURE GUARANTEES

We require a signature guarantee when you redeem by mail and

(1) the amount is greater than $50,000;

(2) you request that payment be made to someone other than the name registered
    on the account;

(3) you request that payment be sent somewhere other than the bank of record on
    the account; or

(4) you request that payment be sent to a new address or an address that changed
    in the last 30 days.

The transfer agent will accept a guarantee of your signature by a number of
financial institutions. Call the transfer agent for additional information. Some
institutions have transaction amount maximums for these guarantees. Please check
with the guarantor institution.

                                      A-5                            SOF--11/00
<PAGE>   14

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

REINSTATEMENT PRIVILEGE (Class A shares only)

You may, within 90 days after you sell Class A shares, reinvest all or part of
your redemption proceeds in Class A shares of any AIM Fund at net asset value in
an identically registered account. In addition, if you paid a contingent
deferred sales charge (CDSC) on any reinstated amount, you will not be subject
to a CDSC if you later redeem that amount. You must notify the transfer agent in
writing at the time you reinstate that you are exercising your reinstatement
privilege. You may exercise this privilege only once per year.

REDEMPTIONS BY THE AIM FUNDS

If your account has been open at least one year, you have not made an additional
purchase in the account during the past six calendar months, and the value of
your account falls below $500 for three consecutive months due to redemptions or
exchanges (excluding retirement accounts), the AIM Funds have the right to
redeem the account after giving you 60 days' prior written notice. You may avoid
having your account redeemed during the notice period by bringing the account
value up to $500 or by utilizing the Automatic Investment Plan.

  If an AIM Fund determines that you have not provided a correct Social Security
or other tax ID number on your account application, the AIM Fund may, at its
discretion, redeem the account and distribute the proceeds to you.

EXCHANGING SHARES

You may, under certain circumstances, exchange shares in one AIM Fund for those
of another AIM Fund. Before requesting an exchange, review the prospectus of the
AIM Fund you wish to acquire. Exchange privileges also apply to holders of the
Connecticut General Guaranteed Account, established for tax-qualified group
annuities, for contracts purchased on or before June 30, 1992.

PERMITTED EXCHANGES

Except as otherwise stated below, you may exchange your shares for shares of the
same class of another AIM Fund. You may exchange AIM Cash Reserve Shares of AIM
Money Market Fund for Class A shares of another AIM Fund, or vice versa. You may
be required to pay an initial sales charge when exchanging from a Fund with a
lower initial sales charge than the one into which you are exchanging. If you
exchange from Class A shares not subject to a CDSC into Class A shares subject
to those charges, you will be charged a CDSC when you redeem the exchanged
shares. The CDSC charged on redemption of those shares will be calculated
starting on the date you acquired those shares through exchange.

YOU WILL NOT PAY A SALES CHARGE WHEN EXCHANGING:

(1) Class A shares of the Special Opportunities Funds for Class A shares of
    another AIM Fund or AIM Cash Reserve Shares of AIM Money Market Fund; or

(2) Class B shares for other Class B shares, and Class C shares for other Class
    C shares.

(3) AIM Cash Reserve Shares of AIM Money Market Fund for Class B shares and
    Class C shares.

EXCHANGES NOT PERMITTED

You may not exchange Class A shares subject to contingent deferred sales charges
for Class A shares of AIM Limited Maturity Treasury Fund, AIM Tax-Free
Intermediate Fund or AIM Tax-Exempt Cash Fund.

EXCHANGE CONDITIONS

The following conditions apply to all exchanges:

- You must meet the minimum and maximum purchase requirements for the AIM Fund
  into which you are exchanging;

- Shares of the AIM Fund you wish to acquire must be available for sale in your
  state of residence;

- Exchanges must be made between accounts with identical registration
  information;

- The account you wish to exchange from must have a certified tax identification
  number (or the Fund has received an appropriate Form W-8 or W-9);

- Shares must have been held for at least one day prior to the exchange;

- If you have physical share certificates, you must return them to the transfer
  agent prior to the exchange; and

- You are limited to a maximum of 10 exchanges per calendar year, because
  excessive short-term trading or market-timing activity can hurt fund
  performance. If you exceed that limit, or if an AIM Fund or the distributor
  determines, in its sole discretion, that your short-term trading is excessive
  or that you are engaging in market-timing activity, it may reject any
  additional exchange orders. An exchange is the movement out of (redemption)
  one AIM Fund and into (purchase) another AIM Fund.

TERMS OF EXCHANGE

Under unusual market conditions, an AIM Fund may delay the purchase of shares
being acquired in an exchange for up to five business days if it determines that
it would be materially disadvantaged by the immediate transfer of exchange
proceeds. There is no fee for exchanges. The exchange privilege is not an option
or right to purchase shares. Any of the participating AIM Funds or the
distributor may modify or discontinue this privilege at any time.

BY MAIL

If you wish to make an exchange by mail, you must include original signatures of
each registered owner exactly as the shares are registered, the account
registration and account number, the dollar amount or number of shares to be
exchanged and the names of the AIM Funds from which and into which the exchange
is to be made.

SOF--11/00                            A-6
<PAGE>   15

                        -------------------------------
                        AIM SPECIAL OPPORTUNITIES FUNDS
                        -------------------------------

BY TELEPHONE

Conditions that apply to exchanges by telephone are the same as redemptions by
telephone, including that the transfer agent must receive exchange requests
during the hours of the customary trading session of the NYSE; however, you
still will be allowed to exchange by telephone even if you have changed your
address of record within the preceding 30 days.

BY INTERNET

You will be allowed to exchange by internet if (1) you do not hold physical
share certificates; (2) you can provide proper identification information; and
(3) you have established the internet trading option.

EXCHANGING CLASS B AND CLASS C SHARES

If you make an exchange involving Class B or Class C shares, the amount of time
you held the original shares will be added to the holding period of the Class B
or Class C shares, respectively, into which you exchanged for the purpose of
calculating contingent deferred sales charges (CDSC) if you later redeem the
exchanged shares. If you redeem Class B shares acquired by exchange via a tender
offer by AIM Floating Rate Fund, you will be credited with the time period you
held the shares of AIM Floating Rate Fund for the purpose of computing the early
withdrawal charge applicable to those shares.

--------------------------------------------------------------------------------
 EACH AIM FUND AND ITS AGENTS RESERVE THE RIGHT AT ANY TIME TO:

 - REJECT OR CANCEL ANY PART OF ANY PURCHASE OR EXCHANGE ORDER;

 - MODIFY ANY TERMS OR CONDITIONS OF PURCHASE OF SHARES OF ANY AIM FUND;

 - REJECT OR CANCEL ANY REQUEST TO ESTABLISH THE AUTOMATIC INVESTMENT PLAN AND
   SYSTEMATIC WITHDRAWAL PLAN OPTIONS ON THE SAME ACCOUNT; OR

 - WITHDRAW ALL OR ANY PART OF THE OFFERING MADE BY THIS PROSPECTUS.
--------------------------------------------------------------------------------

PRICING OF SHARES

DETERMINATION OF NET ASSET VALUE

The price of each AIM Fund's shares is the fund's net asset value per share. The
AIM Funds value portfolio securities for which market quotations are readily
available at market value. The AIM Funds value short-term investments maturing
within 60 days at amortized cost, which approximates market value.

  The AIM Funds value all other securities and assets at their fair value.
Securities and other assets quoted in foreign currencies are valued in U.S.
dollars based on the prevailing exchange rates on that day. In addition, if,
between the time trading ends on a particular security and the close of the
customary trading session of the NYSE, events occur that materially affect the
value of the security, the AIM Funds may value the security at its fair value as
determined in good faith by or under the supervision of the Board of Directors
or Trustees of the AIM Fund. The effect of using fair value pricing is that an
AIM Fund's net asset value will be subject to the judgment of the Board of
Directors or Trustees or its designee instead of being determined by the market.
Because some of the AIM Funds may invest in securities that are primarily listed
on foreign exchanges, the value of those funds' shares may change on days when
you will not be able to purchase or redeem shares.

  Each AIM Fund determines the net asset value of its shares on each day the
NYSE is open for business, as of the close of the customary trading session, or
any earlier NYSE closing time that day.

TIMING OF ORDERS

You can purchase, exchange or redeem shares during the hours the NYSE is open
for business. The AIM Funds price purchase, exchange and redemption orders at
the net asset value calculated after the transfer agent receives an order in
good form. An AIM Fund may postpone the right of redemption only under unusual
circumstances, as allowed by the Securities and Exchange Commission, such as
when the NYSE restricts or suspends trading.

TAXES

In general, dividends and distributions you receive are taxable as ordinary
income or long-term capital gains for federal income tax purposes, whether you
reinvest them in additional shares or take them in cash. Distributions are
generally taxable to you at different rates depending on the length of time the
fund holds its assets. Different tax rates may apply to ordinary income and
long-term capital gain distributions, regardless of how long you have held your
shares. Every year, you will be sent information showing the amount of dividends
and distributions you received from each AIM Fund during the prior year.

  Any long-term or short-term capital gains realized from redemptions of AIM
Fund shares will be subject to federal income tax. Exchanges of shares for
shares of another AIM Fund are treated as a sale, and any gain realized on the
transaction will generally be subject to federal income tax.

  The foreign, state and local tax consequences of investing in AIM Fund shares
may differ materially from the federal income tax consequences described above.
You should consult your tax advisor before investing.

                                      A-7                            SOF--11/00
<PAGE>   16
                        --------------------------------
                        AIM LARGE CAP OPPORTUNITIES FUND
                        --------------------------------

OBTAINING ADDITIONAL INFORMATION
--------------------------------------------------------------------------------

More information may be obtained free of charge upon request. The Statement of
Additional Information (SAI), a current version of which is on file with the
Securities and Exchange Commission (SEC), contains more details about the fund
and is incorporated by reference into the prospectus (is legally a part of this
prospectus). Annual and semiannual reports to shareholders contain additional
information about the fund's investments. The fund's annual report also
discusses the market conditions and investment strategies that significantly
affected the fund's performance during its last fiscal year.

  If you have questions about this fund, another fund in The AIM Family of
Funds--Registered Trademark-- or your account, or wish to obtain free copies of
the fund's current SAI or annual or semiannual reports, please contact us

---------------------------------------------------------

<TABLE>
<S>                          <C>
BY MAIL:                     A I M Fund Services, Inc.
                             P.O. Box 4739
                             Houston, TX 77210-4739

BY TELEPHONE:                (800) 347-4246

BY E-MAIL:                   [email protected]

ON THE INTERNET:             http://www.aimfunds.com
                             (prospectuses and annual
                             and semiannual reports
                             only)
</TABLE>

---------------------------------------------------------

You also can review and obtain copies of the fund's SAI, reports and other
information at the SEC's Public Reference Room in Washington, DC; on the EDGAR
database on the SEC's Internet website (http://www.sec.gov); or, after paying a
duplication fee, by sending a letter, to the SEC's Public Reference Section,
Washington, DC 20549-0102 or by sending an electronic mail request to
[email protected]. Please call the SEC at 1-202-942-8090 for information about
the Public Reference Room.

------------------------------------
 AIM Large Cap Opportunities Fund
 SEC 1940 Act file number: 811-08697
------------------------------------

[AIM LOGO APPEARS HERE]                                 INVEST WITH DISCIPLINE
--Registered Trademark--  www.aimfunds.com  LCO-PRO-1  --Registered Trademark--


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission