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CLASS A, CLASS B AND CLASS C SHARES OF
AIM ADVISOR INTERNATIONAL VALUE FUND
Supplement dated June 23, 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 first paragraph appearing under the
heading "FUND MANAGEMENT - THE ADVISORS" on page 4 of the prospectus:
"A I M Advisors, Inc. (the advisor) serves as the fund's investment
advisor and manages the investment operations of the fund and has
agreed to perform or arrange for the performance of the fund's
day-to-day management. The advisor is located at 11 Greenway Plaza,
Suite 100, Houston, Texas 77046-1173. INVESCO Global Asset Management
(N.A.), Inc. (the subadvisor), the fund's subadvisor, is located at
1315 Peachtree St., N.E., Atlanta, Georgia 30309. The subadvisor is
responsible for the fund's day-to-day management, including the fund's
investment decisions and the execution of securities transactions with
respect to the fund."
At a meeting held on May 10, 2000, the Board of Directors of AIM Advisor Funds,
Inc. (the "company"), on behalf of AIM Advisor International Value 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certain expense limitations that are no longer applicable, and (ii)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.