Our regular look at some of the news of the week:

J. & W. Seligman has completed the initial public offering of its new Seligman New Technologies Fund II, during which the fund took in $787 million. The fund will invest in small- and medium-sized technology companies, including (hopefully) pre-IPO, privately-owned companies. The fund is co-managed by Paul Wick, Storm Boswick and Michael Guthrie. The fund was offered to investors worth more that $1.5 million, and the minimum investment was $25,000.

State Street Research, a subsidiary of Metropolitan Life, is launching the Concentrated Growth fund and Concentrated International fund. The Growth fund will be managed by Pete Woodworth and Bruce Ebel, and will invest in a focused portfolio of 25-35 companies. Thomas Moore will manage the International fund, which will maintain an aggressive and focused portfolio.

ND Holdings of North Dakota has launched the Integrity Small Cap fund of funds, which will invest in approximately 15 to 50 growth-oriented funds that invest in companies with market caps less than $2 billion.

Scudder Kemper plans to close its Latin America Income & Appreciation Fund NV, pending shareholder approval on August 4.

AIM has added three new funds, the Dent Demographic Trends Class, International Growth Class and Global Aggressive Growth Class.

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