The world’s second-largest asset manager has slashed the cost of fund investing, in a record move that is expected to save investors more than $350 million this year alone.

Asset manager Vanguard said on Monday it was lowering the cost of investing across its fund lineup in its largest cut ever and estimated that this would translate into savings of more than $350 million for its investors this year.

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

Malvern-based Vanguard is pricing active funds cheaper as it competes with Schwab, Fidelity, and other mass-market money managers.

Vanguard's fee cuts may not significantly affect BlackRock, as the latter has a more diversified ETF strategy and mainly caters to institutional investors.

Vanguard, the world’s second-largest ETF issuer, recently announced its largest fee cuts in its 50-year history. The company has reduced fees

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

Vanguard Group Inc.’s biggest salvo yet in its campaign to cut fees for the investing masses presents industry rivals with a painful choice. Follow suit and lose potentially hundreds of millions in revenue — or hold the line and risk losing badly needed market share.

Vanguard announced on Monday that it has reduced management fees for 87 exchange-traded funds and mutual funds. This move is the largest fee cut in the company’s nearly 50-year history. The firm estimates that this decision will save investors $350 million in 2025 alone.

Vanguard just announced its largest fee cut in the asset manager's history, which is great news for investors. Here's what you need to know.