<PAGE>   1





                         CLASS A AND CLASS B SHARES OF

                           AIM GLOBAL RESOURCES FUND
                  (A SERIES PORTFOLIO OF AIM INVESTMENT FUNDS)

                       Supplement dated October 16, 1998
                   to the Prospectus dated September 8, 1998



Effective October 19, 1998, INVESCO (NY), Inc. will resign as (i) sub-advisor
and sub-administrator to the Global Resources Portfolio (the "Portfolio") and
(ii) sub-administrator to AIM Global Resources Fund (the "Fund"). A I M
Advisors, Inc. will continue to serve as the manager and administrator for the
Fund and Portfolio.



<PAGE>   2

                                ADVISOR CLASS OF

                           AIM GLOBAL RESOURCES FUND
                  (A SERIES PORTFOLIO OF AIM INVESTMENT FUNDS)

                       Supplement dated October 16, 1998
                   to the Prospectus dated September 8, 1998



Effective October 19, 1998, INVESCO (NY), Inc. will resign as (i) sub-advisor
and sub-administrator to the Global Resources Portfolio (the "Portfolio") and
(ii) sub-administrator to AIM Global Resources Fund (the "Fund"). A I M
Advisors, Inc. will continue to serve as the manager and administrator for the
Fund and Portfolio.



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