<PAGE> 1
ADVISOR CLASS OF
AIM STRATEGIC INCOME FUND
(A SERIES PORTFOLIO OF AIM INVESTMENT FUNDS)
Supplement dated October 1, 1998
to the Prospectus dated September 8, 1998
The seventh paragraph under the heading "MANAGEMENT - Investment Management and
Administration" on page 17 of the prospectus should be deleted in its entirety
and replaced with the following:
"The investment professional primarily responsible for the portfolio management
of the Fund is as follows:
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<CAPTION>
RESPONSIBILITIES FOR BUSINESS EXPERIENCE
NAME/OFFICE THE FUND PAST FIVE YEARS
----------- -------- ---------------
<S> <C> <C>
Cheng-Hock Lau Portfolio Manager since Chief Investment Officer for Global Fixed Income and
New York 1996 Portfolio Manager for the Sub-advisor since October 1996.
Senior Portfolio Manager for Global/International Fixed
Income for the Sub-advisor from July 1995 to October 1996.
Employed by Chancellor Capital Management, Inc. ("Chancellor
Capital"), a predecessor of the Sub-advisor, from 1995 to
October 1996. Senior Vice President and Senior Portfolio
Manager for Fiduciary Trust Company International from 1993
to 1995. Vice President at Bankers Trust Company from 1991
to 1993.
David B. Hughes Portfolio Manager since Head of Global Fixed Income, North America, and Portfolio
New York 1998 Manager for the Sub-advisor since January 1998. Senior
Portfolio Manager for Global/International Fixed Income for
the Sub-advisor from July 1995 to December 1997. Employed by
Chancellor Capital from July 1995 to October 1996. Assistant
Vice President of Fiduciary Trust Company International from
1994 to 1995. Assistant Treasurer at the Bankers Trust
Company from 1991 to 1994.
Craig Munro Portfolio Manager since Portfolio Manager for the Sub-advisor since August 1997.
New York 1998 Vice President and Senior Analyst in the Emerging Markets
Group of the Global Fixed Income Division of Merrill Lynch
Asset Management from 1993 to August 1997."
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