Vanguard launches new round of fee reductions for multiple funds, further escalating industry price war.

Vanguard Group has launched a new round of fee reductions for several of its mutual funds and exchange-traded funds, further intensifying price competition in an industry already known for low costs. The asset management company, founded and managed by Jack Bogle, with assets under management of around $12 trillion, announced in a press release on Monday that it will reduce fees for a total of 53 funds across 84 share classes. This fee reduction lowers Vanguard's asset-weighted average fee to 0.06%, cutting an additional basis point from last year's record fee reductions.