The team at a 2,000-employee, $715-billion-AUM (as of September 30), publicly traded asset manager in Pennsylvania is rolling out their fourth ETF, three years after entering the space.

This morning, John Fisher, president and CEO of Pittsburgh-based Federated Hermes, Inc.'s Federated Advisory Companies [profile], unveiled the launch of the Federated Hermes Total Return Bond ETF (FTRB on the NYSE Arca). The fund is a series of the Federated Hermes ETF Trust.

FTRB's inception date was Tuesday. The new fund comes with an expense ratio of 39 basis points, which bakes in a 10bps fee waiver promised through January 1, 2025.

Federated Investment Management Company will serve as FTRB's investment advisor, and Federated Securities Corp. will serve as distributor. The new, actively managed ETF's PM team will include three Federated senior portfolio managers: Jerome Conner, Donald Ellenberger, and Nathan Kehm.

Fisher puts the launch of FTRB in the context of the diversification value of fixed income securities amid volatile market conditions.

"By offering the rigorously vetted approach used for our recognizable fixed-income products in an ETF structure, Federated Hermes remains well-poised to deliver on investment client mandates in a variety of formats," Fisher states.

The new fund's other service providers will include: Citibank, N.A. as securities lending agent; Goodwin Procter LLP as counsel; K&L Gates LLP as counsel; KPMG LLP as independent accounting firm; and State Street Bank and Trust Company as custodian, dividend disbursing agent, and transfer agent. 

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