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

The Vanguard Group on Monday slashed fees across nearly 90 mutual funds and ETFs, which the investment management giant called the largest expense ratio reductions in its almost 50-year history.

Vanguard Group Inc., the world's second-largest ETF issuer, is making what it says is its biggest fee cuts in the company's 50-year history, trimming the expense ratios of dozens of mutual fund and ETF share classes that it claims will save investors more than $350 million in 2025.