REPORT: SAC Capital Is Going To Give Bigger Base Salaries And Bonuses To Keep Portfolio Managers From Leaving

SAC Capital Advisors, the $US14 billion hedge fund run by Steven Cohen, is introducing a retention program to keep its portfolio managers and analysts around, CNBC’s Kate Kelly reports.

From Kate Kelly:

In late July, SAC was slapped with criminal insider trading charges. U.S. prosecutors charged SAC “with criminal responsibility for insider trading offenses committed by numerous employees and made possible by institutional practices that encouraged the widespread solicitation and use of illegal inside information,” the indictment stated.

Two of SAC’s former portfolio managers have insider trading trials coming up in November.

The SEC also civilly charged Cohen for failing to supervise the portfolio managers.

Cohen launched SAC in 1992. The hedge fund has around 900 employees globally.

NOW WATCH: Money & Markets videos

Want to read a more in-depth view on the trends influencing Australian business and the global economy? BI / Research is designed to help executives and industry leaders understand the major challenges and opportunities for industry, technology, strategy and the economy in the future. Sign up for free at