European small caps have long proven to be ideal territory for bottom-up active stock managers. It continues to be a rich area for investors, not least due to a strong IPO cycle. T. Rowe Price has a long record of being able to discover interesting small companies that are often innovative disrupters and demonstrate sustained business growth and strong returns for shareholders. Andrew Clifton will discuss how his team discovers those European smaller companies that can generate dramatic returns over the next 5-10 years, the so-called “super- compounders”. Also, what approach to portfolio construction should be adopted when they are identified? Using practical examples, he will share the experiences of the team over the last decade. Illustrating both the key lessons learned but also the mistakes that have been made, Andrew will guide the audience as to how best to navigate the very exciting domain of smaller companies investing in Europe.