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

SAC Capital Advisors, the $14 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:

SAC Capital just announced retention program for PMs and analysts. Higher bonuses and base pay for long-short managers, among other things

- Kate Kelly (@KateKellyCNBC) September 4, 2013

SAC offering long-shorts 3% bonus in addition to usual cut of P&L for this year, plus higher base salary in 2014

- Kate Kelly (@KateKellyCNBC) September 4, 2013

SAC trying to stave off a big talent exodus early next year -- even though at 15-25% of PnL they already have some of highest pay in HF land

- Kate Kelly (@KateKellyCNBC) September 4, 2013

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.