Shares of WeMade Entertainment Co., Ltd. (XKRX:112040, Financial) a leading game developer in Korea, retreated in the fourth quarter . Performance in the f ourth quarter was driven down by falling traffic of existing games, coupled with weak performance of new games. We continue to hold WeMade due to its leading mobile game development team and its domain expertise in multi-player online role playing games. The company is also emerging from an intense period of R&D investment, and we expect WeMade to reap the benefits in the form of revenue acceleration and margin expansion as mobile smartphone based games proliferate in coming years. (Catherine Chen)
From Ron Baron (Trades, Portfolio)'s Baron Funds' fourth quarter 2013 commentary.
