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AIM ADVISOR FLEX FUND
Supplement dated June 21, 2000
to the Prospectus dated May 1, 2000,
as supplemented May 11, 2000
This supplement supersedes and replaces in its entirety the supplement dated
May 11, 2000.
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 are
o James O. Baker, C.F.A., Senior Portfolio Manager, who has
been responsible for the fund and has been associated with
the subadvisor and/or its affiliates since 1992.
o David S. Griffin, C.F.A., Assistant Portfolio Manager, who
has been responsible for the fund since 1993 and has been
associated with the subadvisor and/or its affiliates since
1991.
o Margaret (Peg) Durkes Hoogs, C.F.A., Assistant Portfolio
Manager, who has been responsible for the fund since 1997
and has been associated with the subadvisor and/or its
affiliates since 1993."
At a meeting held on May 10, 2000, the Board of Directors of AIM Advisor Funds,
Inc. (the "company"), on behalf of AIM Advisor Flex 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;
- 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limitations that are no longer applicable, and (ii)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
investments in certain affiliated money market funds and
any new securities lending program implemented in the
future);
- 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; and
- Changing the fund's investment objective and making it
non-fundamental. The investment objective of the fund would
be changed by eliminating from the investment objective the
manner in which your fund proposes to achieve its objective
of a high total return on investment. If the investment
objective of the fund becomes non-fundamental, it can be
changed in the future by the Board of Directors of the
company without further approval by shareholders. Pursuant
to this proposal, the fund's investment objective would
read: "The fund's investment objective is to achieve high
total return."
The Board of Directors of the company has called a meeting of the fund's
shareholders to be held on or about September 1, 2000 to vote on these and
other proposals. Only shareholders of record as of June 23, 2000 will be
entitled to vote at the meeting. Proposals that are approved are expected to
become effective on or about September 11, 2000.
