Vanguard announced fee reductions for 168 mutual fund and exchange-traded share classes across 87 funds. The move will save investors roughly $350 million this year. The asset manager’s wide fee cut comes less than a month after Vanguard agreed to pay more than $100 million to the Securities and Exchange Commission over alleged violations involving its target date retirement funds.

The company’s sweeping expense ratio cuts for dozens of funds may pressure other asset managers to lower their costs too.

Vanguard Group has slashed the fees for dozens of its mutual funds and ETFs in a record move that’s likely to send a shock wave through the asset management industry.Most Read from BloombergNew York’s

Vanguard has cut the expense ratios of 168 mutual fund and exchange-traded share classes across 87 funds, effectively immediately, which will save Vanguard’s investors more than $350 million in 2025 alone, said a Feb. 3 news release.

Vanguard has announced “historic" reductions to the expense ratios for about 43% of its U.S.-based mutual fund and ETF share classes. The asset manager, started by famed low-cost investor Jack Bogle,

Vanguard on Monday announced reductions to the management fees of 87 investment funds, reportedly the largest such cuts in company history.

Vanguard Group has cut fees on 87 of its 428 investment funds. The Malvern, Pennsylvania-based investment giant says the reductions will save some of the company’s more than 50 million stock and bond fund investors a total of more than $350 million this year,

Key Takeaways The Vanguard Group on Monday announced the largest management fee cuts in its history.The move will reduce the cost of putting money in 87 exchange-traded funds and mutual funds, Vanguard said.