The Peter and Paul Snowden-trained Sovereign Fund will attempt to emulate his sire Capitalist in the Magic Millions 2yo Classic at the Gold Coast after winning the $200,000 Wyong 2yo Classic RL (1100m) on Wednesday.

Capitalist won the Breeders’ Plate in the spring before his near 3-length romp at Wyong, which preceded his Magic Millions triumph.

Sovereign Fund was making his career debut and with the unstoppable James McDonald in the saddle, he tracked the early speed set by Mach Ten and Fire Lane before surging clear to win by a length and a quarter.

Sovereign Fund runs for a high-profile syndicate, including Newgate Farm, China Horse Club and Trilogy Racing, and was a $550,000 purchase from the Newgate Farm draft at the 2022 Magic Millions Gold Coast Yearling Sale.

“He has come a long way in a short space of time,” Paul Snowden said.

“What gave us confidence today was that with a fast tempo and drawing so well, we had a lovely cart into the race. He was the strongest late, which we wanted him to be.

“Early on, he was unassuming, very shy and did not like being cluttered up. We have done a lot of work with him and tinkered with his gear.”

On whether Sovereign Fund would head to the Magic Millions, Snowden said, “good luck talking Henry (Field) out of it.”

“This has been the main form race going north, and he is a pretty tough horse with a tough constitution.”

Bred by SF Bloodstock and partners, Sovereign Fund was foaled and raised at Newgate and is the second winner from as many to race from the talented Mossman mare Mossbeat, who placed behind Solicit in the Group III Summoned Stakes.

Sovereign Fund is the tenth stakes-winner for Capitalist, who has 42 entries for Magic Millions and 39 for Inglis Classic.