The smoke and mirrors of fund management have disappeared and the stark reality is before consumers' eyes thanks to the innovative www.metamarkets.com. This Californian site allows investors to examine the real-time holdings and trading activities of an investment fund.

Each stock in the OpenFund portfolio is displayed by name, weighting, purchase price, sale price and relevant dates. A video link-up allows Web users to see traders in action but Irish investors will have to stay up late as US, west-coast trading hours are well behind ours.

The company hopes that the transparency will entice consumers to invest in the fund, as they may watch what's happening to their money moment by moment. At least one Irish investment fund manager believes that such an interactive system may be available here in the future.