Vanguard welcomes fee wars with rivals Fidelity and BlackRock

In recent years, rival asset managers such as Fidelity Investments and BlackRock Inc. have cut their fund fees to match or beat Vanguard, the low-cost investing pioneer with $4.4 trillion in assets. Tim Buckley, Vanguard's new president and incoming chief executive officer, said the company will keep lowering fund expenses as it grows.