Abstract
Let k be a field and let A = be a normal graded subring of the full ring of polynomials R = k[X1, · · ·, Xn] (where R always is graded via total degree and A0 = k). R. Fossum and the author [F-G] observed that the completion  at the irrelevant maximal ideal of A is isomorphic to the subring of the formal power series ring R̂ = k[[X1, · ·., Xn]] and, moreover, that  is a ring of invariants of an algebraic group whenever A is.
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