A trophy is an object with no useful purpose except as a symbol of power, excellence or, in the case of trophy assets, wealth. That’s not something that seems to worry Abu Dhabi.

In the past couple of days, funds sponsored by the emirate have bought Manchester City and set out plans to invest in movie production, adding to a state-backed portfolio of assets that already includes two London restaurants, a stake in Ferrari, the sports car manufacturer, and control of Manhattan’s Chrysler Building.