By 2025, Vanguard will cut its investment fund fees by $1 billion, the «Financial Times» (behind paywall) reports, citing the U.S. fund giant’s chief executive Tim Buckley.

The asset manager, which is heavily involved in the relatively low-cost exchange-traded index fund (ETF) sector, already reduced charges by $140 million last year.

The recent announcement adds fuel to an ongoing management fee battle among peers. The world's largest asset manager, Blackrock, also lowered fees on two large bond ETFs this week, the paper writes.