Title	President & Founder
Company	First Philippine Index Fund
Year	1994-1995
Country	Philippines
Funding Agency	Private Sector

Mr. Johnson researched, analyzed, and directed the prospective launch of a Philippine, closed-end, country index fund to track an International Finance Corp.  (IFC) Global Index.  He negotiated use of IFC Indices with IFC Emerging Market managers, prepared a detailed business plan that showed actively-managed closed-end country funds under perform their corresponding country’s indices by an average of 5% per year.