Vanguard Investments just sent an early Valentine’s gift to its millions of investors. The investment management company has cut the expense ratio on 168 share classes across 87 mutual funds and exchange-traded funds (ETFs).

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.

The company’s sweeping expense ratio cuts for dozens of funds may pressure other asset managers to lower their costs too.

Vanguard announced fee reductions for 168 mutual fund and exchange-traded share classes across 87 funds. The move will save investors roughly $350 million this year. The asset manager’s wide fee cut comes less than a month after Vanguard agreed to pay more than $100 million to the Securities and Exchange Commission over alleged violations involving its target date retirement funds.