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.

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

Even if they don’t race to the bottom on price, active managers, in particular, still need to ensure their prices are fair and that they offer something that can’t be replaced with passive.