Managing Active Solar requires a deep knowledge of the technologies and the specifics of the photovoltaic value chain.


Active Solar is managed by Active Niche Funds SA.

The company was founded in 2007 by two brothers, Pascal and Philippe Rochat, who are the only shareholders.

Active Niche Funds holds a license granted by FINMA in order to manage collective investment schemes.

Since 2008, Active Solar is managed by the same team who developed an expertise on the worldwide solar market.

“I was convinced very early that solar was going to revolutionize the world energy sector and this is happening today!”

Pascal Rochat, CEO – fund manager
  • Pascal founded Active Niche Funds in 2007.
  • Pascal co-manages Active Solar together with Arnaud Chambaud.
  • Prior to founding ANF, Pascal was Chief Risk Officer at Energie Ouest Suisse (EOS, now Alpiq) in Lausanne. Pascal first worked at Arthur Andersen (then Ernst & Young) in Geneva as auditor and financial and economic consultant.
  • Pascal holds a Ph.D. in Law of the University of Lausanne and a Postgraduate Management Certificate of HEC Lausanne.

“There are various businesses within the photovoltaic value chain. I developed valuation models that take into account the specifics of each company.”

Arnaud Chambaud, Analyst – fund manager


  • Arnaud is in charge of analysis for the companies of the solar sector.
  • Arnaud co-manages Active Solar together with Pascal Rochat.
  • Formerly, Arnaud worked as a financial analyst with several companies in Paris: IT Asset Management, Groupe BPCE, banque Volkswagen.
  • Arnaud holds a Master in Finance of ESLSCA in Paris.

The managers of Active Solar are supported by three experts of the solar sector and the energy sector; they sit on the Advisory Board of the fund:

Prof. Christophe Ballif
The science and technology expert
  • Prof. EPFL, Director of the Photovoltaics laboratory, EPFL
  • Vice-president of CSEM, Director of PV-center
  • Solar research in high efficiency photovoltaics, crystalline silicon, module technology
  • Technology transfer and support to industrial development
  • Consultant, adviser and manager of key projects along the full chain of solar technology
Jean-Christophe Hadorn
The solar industry expert
  • Partner in FRACTAL-SWISS SA business and certification consulting
  • Operating Agent of IEA SHC Task 60 “PVT systems”
  • Cofounder of INES (Institut National de l’Energie Solaire, France)
  • Former Lecturer at EPFL (Solar energy)
  • Lecturer at HEC EMBA (Business Strategy)
Roland Rechtsteiner
The strategy and finance expert
  • Partner at Oliver Wyman AG, Zurich
  • Co-head of global Energy Practice
  • Activities within the World Energy Council (WEC)
  • Energy portfolio consulting
  • Strategy consulting

We are available for a presentation of Active Solar and the worldwide solar sector.

Active Solar invests in various companies within the photovoltaic value chain, from polysilicon producers to cells and modules manufacturers, together with installers, equipment producers and solar farms.

Solar photovoltaic belongs to the global sector of electricity generation; it is key to understand the developments and the issues of the sector.