The asset manager says the move at 87 funds will save investors $350 million this year.

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,

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.