The move reduces fees on 87 different funds, and 168 total share classes of those funds. The average fee cut is 20% per share class. Vanguard said this is its biggest fee cut ever and will save investors about $350 million this year, based on current asset levels.

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.