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                                                                      EXHIBIT 17

                     EVERY SHAREHOLDER'S VOTE IS IMPORTANT!
                 PLEASE SIGN, DATE AND RETURN YOUR PROXY TODAY!

PROXY CARD                                                            PROXY CARD

                  PROXY SOLICITED BY THE BOARD OF TRUSTEES OF

                         AIM EMERGING MARKETS DEBT FUND

                     (A PORTFOLIO OF AIM INVESTMENT FUNDS)

       PROXY FOR SPECIAL MEETING OF SHAREHOLDERS TO BE HELD MAY 31, 2000

The undersigned hereby appoints Robert H. Graham and Gary T. Crum, and each of
them separately, proxies with the power of substitution to each, and hereby
authorizes them to represent and to vote, as designated below, at the Special
Meeting of Shareholders on May 31, 2000, at 3:00 p.m., Central time, and at any
adjournment thereof, all of the shares of the fund which the undersigned would
be entitled to vote if personally present. IF THIS PROXY IS SIGNED AND RETURNED
WITH NO CHOICES INDICATED, THE SHARES WILL BE VOTED "FOR" THE APPROVAL OF THE
PROPOSAL.

                                       CONTROL NUMBER:


                                       NOTE: PLEASE SIGN EXACTLY AS YOUR NAME
                                       APPEARS ON THIS PROXY CARD. All joint
                                       owners should sign. When signing as
                                       executor, administrator, attorney,
                                       trustee or guardian or as custodian for a
                                       minor, please give full title as such. If
                                       a corporation, please sign in full
                                       corporate name and indicate the signer's
                                       office. If a partner, sign in the
                                       partnership name.




                                       -----------------------------------------
                                       Signature

                                       -----------------------------------------
                                       Signature (if held jointly)

                                       -----------------------------------------
                                       Dated                            10527_02






THIS PROXY IS SOLICITED ON BEHALF OF THE BOARD OF TRUSTEES. THE TRUSTEES
RECOMMEND VOTING "FOR" THE PROPOSAL. TO VOTE, FILL IN BOX COMPLETELY.
EXAMPLE: [X]

                                                                                                      
1. To approve a Plan of Reorganization and Termination providing for the            FOR            AGAINST     ABSTAIN
   reorganization of AIM Emerging Markets Debt Fund into AIM Developing Markets
   Fund, both portfolios of AIM Investment Funds.                                   [ ]              [ ]         [ ]

2. IN THE DISCRETION OF SUCH PROXIES, UPON SUCH OTHER BUSINESS AS MAY PROPERLY
   COME BEFORE THE MEETING OR ANY ADJOURNMENT THEREOF.