AIM INVESTMENT FUNDS
497, 1999-06-18
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                             CLASS A, B AND C SHARES

                       AIM GLOBAL FINANCIAL SERVICES FUND

                         Supplement dated June 18, 1999
                     to the Prospectus dated March 1, 1999,
                            as revised June 11, 1999


Effective June 21, 1999, the following replaces in its entirety the information
appearing under the heading "FUND MANAGEMENT - PORTFOLIO MANAGER" on page 5 of
the prospectus:

         "PORTFOLIO MANAGERS

         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, all of whom are officers
         of A I M Capital Management, Inc., a wholly owned subsidiary of the
         advisor, are

         o        Barrett K. Sides, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1990.

         o        Robert A. Shelton, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1995. From 1991 to 1995,
                  he was a financial analyst for CS First Boston.

         o        T. Bradley Conger, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1997. From 1993 to 1997,
                  he was a member of the Goldman Sachs & Co. international
                  equity sales team.

         o        Christopher P. Perras, Portfolio Manager, who has been
                  responsible for the fund since 1999 and has been associated
                  with the advisor and/or its affiliates since 1999. From 1997
                  to 1999, he was an equity analyst at Van Wagoner Capital
                  Management. From 1995 to 1997, he was Associate Portfolio
                  Manager for Van Kampen American Capital Asset Management,
                  Inc."



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                             ADVISOR CLASS SHARES OF

                       AIM GLOBAL FINANCIAL SERVICES FUND

                         Supplement dated June 18, 1999
                     to the Prospectus dated March 1, 1999,
                          as supplemented June 11, 1999


This supplement supersedes and replaces in its entirety the supplement dated
June 11, 1999.

Effective June 21, 1999, the following replaces in its entirety the information
appearing under the heading "FUND MANAGEMENT - PORTFOLIO MANAGER" on page 4 of
the prospectus:

         "PORTFOLIO MANAGERS

         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, all of whom are officers
         of A I M Capital Management, Inc., a wholly owned subsidiary of the
         advisor, are

         o        Barrett K. Sides, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1990.

         o        Robert A. Shelton, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1995. From 1991 to 1995,
                  he was a financial analyst for CS First Boston.

         o        T. Bradley Conger, Portfolio Manager, who has been responsible
                  for the fund since 1999 and has been associated with the
                  advisor and/or its affiliates since 1997. From 1993 to 1997,
                  he was a member of the Goldman Sachs & Co. international
                  equity sales team.

         o        Christopher P. Perras, Portfolio Manager, who has been
                  responsible for the fund since 1999 and has been associated
                  with the advisor and/or its affiliates since 1999. From 1997
                  to 1999, he was an equity analyst at Van Wagoner Capital
                  Management. From 1995 to 1997, he was Associate Portfolio
                  Manager for Van Kampen American Capital Asset Management,
                  Inc."

The following replaces in its entirety the information appearing under the
heading "EXCHANGING SHARES-EXCHANGE CONDITIONS" on page A-3 of the prospectus:

         "The following conditions apply to all exchanges:

                  o        You must meet the minimum purchase requirements for
                           the AIM Fund into which you are exchanging;

                  o        Shares of the AIM Fund you wish to acquire must be
                           qualified for sale in your state of residence;

                  o        Exchanges must be made between accounts with
                           identical registration information;

                  o        The account you wish to exchange from must have a
                           certified tax identification number (or the Fund has
                           received an appropriate Form W-8 or W-9);

                  o        Shares must have been held for at least one day prior
                           to the exchange; and


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                  o        If you have physical share certificates, you must
                           return them to the transfer agent prior to the
                           exchange.

         Beginning September 15, 1999, the following exchange condition will
apply:

                  o        Because excessive short-term trading or market-timing
                           activity can hurt fund performance, you are limited
                           to a maximum of 10 exchanges per calendar year. If
                           you exceed that limit, or if an AIM Fund or the
                           distributor determines, in its sole discretion, that
                           your short-term trading is excessive or that you are
                           engaging in market-timing activity, it may reject any
                           additional exchange orders. An exchange is the
                           movement out of (redemption) one AIM Fund and into
                           (purchase) another AIM Fund."



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