INVESCO ADVISOR FUNDS, INC.
Revised Supplement dated April 11, 1997
To Prospectus Dated December 31, 1996
The Board of Directors of INVESCO Advisor Funds, Inc. ("Company") at a
meeting held on March 26, 1997, voted to approve a consolidation of the
Company's services with those of The AIM Family of Funds. The Company's
investment adviser, INVESCO Services, Inc. ("ISI"), recently became affiliated
with A I M Management Group Inc., a financial services holding company located
in Houston, Texas, through a merger described in a proxy statement that was
distributed to Company shareholders December 26, 1996. In order to implement the
proposed consolidation, shareholders of the Company will be asked to approve (1)
a new investment advisory contract with A I M Advisors, Inc. ("AIM") with terms
substantially identical to those of the Company's current investment advisory
contract with ISI, (2) amendments to the sub-advisory contracts for the
individual funds of the Company to reflect the substitution of AIM for ISI as
investment adviser, and (3) a new board of directors consisting of persons who
are currently directors of The AIM Family of Funds. There will be no change in
the identities of the current sub-advisers, except that Cash Management
Portfolio will no longer have a sub-adviser but will, instead, be directly
advised by AIM. If these changes are approved by shareholders, A I M
Distributors, Inc. would become the Company's principal underwriter and certain
other affiliated and unaffiliated service providers to the AIM Funds would
provide services to the Company. The proposed changes are not expected to
increase fees payable by the Company or any Portfolio for services. If approved
by shareholders, the consolidation with the AIM family of mutual funds is
expected to be implemented at some time subsequent to August 1, 1997.
