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AIM ADVISOR FLEX FUND
Supplement dated October 1, 1999
to the Prospectus dated May 3, 1999,
as revised July 1, 1999
The following new paragraph is added after the third paragraph under the section
entitled "PRINCIPAL RISKS OF INVESTING IN THE FUND" on Page 1 of the Prospectus:
"The fund may participate in the initial public offering (IPO) market.
Because of the fund's small asset base, any investment the fund may make in
IPOs may significantly increase the fund's total returns. As the fund's
assets grow, the impact of IPO investments will decline, which may reduce
the fund's total returns."
The following is added to the end of the paragraph under the section entitled
"PERFORMANCE INFORMATION" on Page 2 of the Prospectus:
"Total return information in the bar chart and table below may be
affected by special market factors, including the fund's investments in
IPOs, which may have 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."
The following information replaces in its entirety the first bullet appearing
under the heading "PORTFOLIO MANAGERS" on page 4 of the Prospectus:
o "James O. Baker, C.F.A., Senior Portfolio Manager, who has been
responsible for the fund since 1999 and has been associated with the
subadvisor and/or its affiliates since 1992."
The following new paragraph should be added as the last paragraph under the
section entitled "FINANCIAL HIGHLIGHTS" on Page 5 of the Prospectus:
"Total return information in this table may be affected by special
market factors, including the fund's investments in IPOs, which may have 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."
The following new section is added immediately after the section entitled
"SHAREHOLDER INFORMATION-REDEEMING SHARES-REDEMPTION OF AIM CASH RESERVE SHARES
OF AIM MONEY MARKET FUND ACQUIRED BY EXCHANGE" on Page A-4 of the Prospectus:
"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."
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The first paragraph under the heading "SHAREHOLDER INFORMATION-EXCHANGING
SHARES-PERMITTED EXCHANGES" on Page A-6 of the Prospectus is replaced with the
following:
"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 also exchange AIM Cash Reserve Shares of AIM
Money Market Fund for Class B shares or Class C shares of another AIM Fund,
but only if the AIM Cash Reserve Shares were purchased directly and not
acquired by exchange. 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."
A new paragraph (5) is added under the heading "SHAREHOLDER INFORMATION-
EXCHANGING SHARES-PERMITTED EXCHANGES-YOU WILL NOT PAY A SALES CHARGE WHEN
EXCHANGING:" on Page A-6 of the Prospectus, and the new paragraph (5) reads as
follows:
"(5) AIM Cash Reserve Shares of AIM Money Market Fund for Class B
shares and Class C shares. "
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