(Bloomberg) -- Vanguard Group has a message for competitorstrying to undercut its prices: Game on.

In recent years, rival asset managers such as FidelityInvestments and BlackRock Inc. have cut their fund fees to match orbeat Vanguard, the low-cost investing pioneer with $4.4 trillion inassets.

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Tim Buckley, Vanguard’s new president and incoming chiefexecutive officer, said the company will keep lowering fundexpenses as it grows.

"As we continue to get scale, as we continue to grow and we getmore efficient, we pass a large part of that back to our clients inthe form of lower expenses. That’s not going to stop,” Buckley saidThursday on a company webcast.

"If other people want to offer index funds, great. But youbetter be ready to keep lowering price, and we’re going to do itacross every product."

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Fee wars have broken out across the U.S. asset managementindustry. This week Fidelity announced fee cuts on 14 passiveproducts and said some of its funds now have net expenses belowcomparable ones at Vanguard.

BlackRock, the world’s largest money manager, last year reducedexpense fees on 15 exchange-traded funds and Charles Schwab Corp.has also attracted money to its ETFs by trying to undercut Vanguardon similar products.

Last year alone 226 Vanguard funds and ETFs reported expenseratio declines, saving customers an estimated $337 millioncumulatively, the company said.

Beyond fees

Fidelity said it’s beating Vanguard in the fee arena when itcomes to index funds.

“One hundred percent of Fidelity’s stock and bond index mutualfunds and sector ETFs have total net expenses lower than theircomparable Vanguard fund," Fidelity spokesman Charlie Keller saidin a statement Friday. “Fidelity is firmly committed to providinghigh-quality index funds that are among the lowest cost in theindustry.”

Cost shouldn’t be the only factor when choosing a fund, Kellersaid. “Investors should consider the overall value, service andcustomer experience they are getting,” he added.

On Thursday’s Vanguard webcast, billed as a chance to introducecustomers to the company’s new leadership, Buckley also discussedthe firm’s efforts to expand outside the U.S. The company now hasmore than $300 billion in assets abroad, including directbusinesses in the U.K. and Australia.

“You can expect to see Vanguard continue to grow globally andthat growth will help investors back here [in the U.S.],” Buckleysaid. “It gives us that added scale we talked about, that we cankeep pushing prices down and continue benefiting from having aglobal investment team.”

Buckley, who previously was Vanguard’s chief investment officer,succeeds current CEO Bill McNabb on Jan. 1.

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