The American fund manager that employs Theresa May’s husband has said that it intends to use market uncertainty after Britain’s withdrawal from the European Union as a “buying opportunity”, raising a potential conflict of interest.

Philip May, the prime minister’s husband of 36 years, is a client relationship manager at Capital International, part of Capital Group.

Rob Lovelace, president of Capital and grandson of its founder, has said that the referendum result is “the beginning of a process” rather than a “bimodal event” and that the uncertainty could create investment opportunities.

Capital primarily invests pension savings in companies quoted on stock exchanges and it is Mr May’s job to liaise with the pension funds that are Capital’s clients. He does not manage funds.

In a