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.

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,