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                        AIM GLOBAL AGGRESSIVE GROWTH FUND

                       Supplement dated December 29, 2000
                      to the Prospectus dated June 21, 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, all of whom are officers of A I M
    Capital Management, Inc., a wholly owned subsidiary of the advisor, are

    o    Ryan E. Crane, Portfolio Manager, who has been responsible for the
         fund since 2000 and has been associated with the advisor and/or its
         affiliates since 1994.

    o    A. Dale Griffin, III, Senior Portfolio Manager, who has been
         responsible for the fund since its inception in 1994 and has been
         associated with the advisor and/or its affiliates since 1989.

    o    Jason T. Holzer, Portfolio Manager, who has been responsible for the
         fund since 1999 and has been associated with the advisor and/or its
         affiliates since 1996. From 1994 to 1996, he was an associate with JMB
         Realty.

    o    Robert M. Kippes, Senior Portfolio Manager, who has been responsible
         for the fund since its inception in 1994 and has been associated with
         the advisor and/or its affiliates since 1989.

    o    Clas G. Olsson, Senior Portfolio Manager, who has been responsible for
         the fund since 1997 and has been associated with the advisor and/or its
         affiliates since 1994.

    o    Jay K. Rushin, Portfolio Manager, who has been responsible for the
         fund since 2000 has been associated with the advisor and/or its
         affiliates since 1998. From 1996 to 1998, he was an associate equity
         analyst with Prudential Securities.

    o    Barrett K. Sides, Portfolio Manager, who has been responsible for the
         fund since 1995 and has been associated with the advisor and/or its
         affiliates since 1990."