SEBI has directed fund houses to invest 1% of the total funds raised or Rs.50 lakh, whichever is less in growth option of their NFOs. For such schemes where growth option is not available, the investment shall be made in the dividend reinvestment option of the scheme. Moreover, for such schemes where growth option as well as dividend reinvestment option are not available the investment shall be made in the dividend option of the scheme. The direction shall come into force with immediate effect.