Fund Overview
The Whitespacealpha International Trust is an offshore investment vehicle operating within the GIFT City (IFSC) regulatory ecosystem under the International Financial Services Centres Authority (IFSCA). The trust acts as the legal umbrella for the WhitespaceAlpha International Fund, which is a Category III Alternative Investment Fund (AIF). Officially launched on November 1, 2025, this fund is strategically engineered to offer non-resident Indians (NRIs) and global institutional investors a tax-efficient route into Indian capital markets. It follows a market-neutral, quantitative approach designed to harvest consistent absolute returns with very low correlation to traditional equity market directions.
Fund Snapshot Table
Data as of May 2026
| Feature | Details |
| Trust Umbrella | Whitespacealpha International Trust |
| Fund Scheme | WhitespaceAlpha International Fund |
| Category | Category III AIF (IFSCA Regulated) |
| Registration No. | IFSC/AIF3/2024-25/0176 |
| Base Currency | US Dollar (USD) |
| Inception Date | November 1, 2025 |
| Minimum Investment | USD 50,000 for Accredited Investors (Standard: USD 150,000) |
| Core Asset Blend | AAA Debt Instruments, Sovereign Bonds + Derivatives Overlay |
| Investment Strategy | Quantitative Volatility Trading (Market-Neutral) |
Fund Philosophy
The fund’s philosophy is rooted in the conviction that volatility is an asset class to be harvested, rather than a risk to be feared. Instead of attempting to time or predict macro market directions, Whitespacealpha utilizes mathematical modeling to capture the variance between implied volatility and actual realized volatility. The core portfolio philosophy relies on a low-risk foundation—investing in high-grade AAA debt and government securities—and supercharging those stable yields by executing systematic options trading models. Positions are heavily disciplined and typically closed out month-on-month to secure realized absolute gains.
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Learn about the experienced fund managers responsible for investment decisions, portfolio strategy, and long-term fund performance.
Puneet Sharma
Puneet Sharma is a seasoned quantitative fund manager and a key architectural force driving Whitespacealpha's mathematical models. Holding an engineering degree from the Delhi College of Engineering and an MBA from IIM Lucknow, he possesses deep academic and practical grounding in statistical modeling. Prior to transitioning into quantitative asset management, he led the Corporate Finance, M&A, and Valuations advisory divisions at PricewaterhouseCoopers (PwC). His expertise lies in deploying algorithmic risk-control systems that automate delta-hedging and manage trade execution thresholds.
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Find answers to common questions about fund investments, performance, portfolio strategy, and investor services.
While standard Category III AIF rules under the IFSCA generally mandate a baseline minimum entry barrier of USD 150,000 for foreign passport holders, the WhitespaceAlpha International Fund enables a lowered onboarding threshold of USD 50,000 specifically for pre-qualified Accredited Investors.
The fund does not take directional bets on whether the stock market will rise or crash. Instead, it places capital into highly stable fixed-income assets and layers a proprietary options-selling algorithm over the top. It capitalizes on structural options pricing math (time decay and volatility contractions) to capture small, recurring spreads, insulating the capital from macro market declines.
By setting up the fund inside the GIFT City IFSC, non-resident investors benefit from structural tax neutrality. There is an exemption from Goods and Services Tax (GST) on the fund management fees, and specific capital gains earned by offshore entities via this international trust are treated with maximum tax efficiency compared to standard domestic Indian onshore investing.
No. While Category III funds are legally permitted to employ leverage through derivatives, Whitespacealpha relies on a protective framework. The derivative overlay is applied directly to exploit statistical correlations and index option spreads against an existing, underlying pillow of secure, AAA-rated fixed-income instruments.
Yes, the underlying trading model is designed around short-term, monthly cycles. The fund typically rolls over or flattens its active derivative options exposures at the close of every monthly expiry period, which facilitates systematic portfolio rebalancing and supports smooth operational liquidity parameters for its investors.