Janus Capital, a Denver-based fund manager, has become the first US investment company this year to have its wrist slapped by shareholders over its executives' pay packets - as American investors become bolder in expressing their discontent on remuneration.

At Janus' general meeting last Thursday - just as UK governance-watchers were distracted by impending royal nuptials - the fund manager recieved just 40.1% support for its pay report.