Ananda-Rajah, who represents the seat of Higgins that is being abolished at this election, said she believed that when young people began working and earning money, they should think about how to save and invest as “ultimately, we want people to be creating wealth”.

“I’m a little bit different because I always had a good job and a good wage and that’s not always the case with many Australians … that’s why job security matters and workers’ rights matters,” she said.

Attorney-General Mark Dreyfus, teal independent Allegra Spender and the Coalition spokesman for veterans’ affairs Barnaby Joyce all have more than 10 shareholdings, either personally or through members of their family.

Some MPs invest personally, whereas others, like Dreyfus, use financial advisors and ETFs to ensure they are not exposed to potential conflicts of interest.

ETFs with Vanguard and Betashares and investments in major companies such as Qantas, Woolworths and Commonwealth Bank are common choices among politicians.

The latest data from the ASX reveals an increase in people investing their money into assets beyond property and superannuation.

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The ASX found there has been a 13 per cent increase in the number of Australians investing in assets such as shares and exchange-traded funds, from 46 per cent of investors in 2020 to 51 per cent in 2023.

Alex Vynokur, chief executive of Sydney-based ETF firm Betashares, said the number of politicians investing in shares was closely aligned with broader trends.

“If one were to say that our parliamentarians represent the average Australian well, they definitely represent the average Australian with their investment patterns,” he said.

The barriers to owning shares have dropped away, particularly since information became accessible online, Vynokur said, and the housing crisis has led to property no longer being an accessible option to people.

“There has been a very significant number of Australians who became investors for the first time in the last five years in particular … during the period of COVID, there have been over a million new investors in shares and ETFs,” he said.

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