Trainer Levi Kavanagh's plan to target the lucrative Inglis Dash with Excess Funds has been rewarded at Caulfield with the three-year-old racing to a convincing victory in the $500,000 race.

Gelded after his spring preparation last year, Excess Funds returned from a spell with a win at Flemington last month before finishing fourth over 955m at The Valley in his other lead-up race into Saturday's sales-restricted event over 1100m.

With champion jockey Hugh Bowman aboard for the first time, Excess Funds sat three-wide just better than midfield before chiming in strongly in the home straight.

Excess Funds ($5.50) hit the front approaching the 100m and was strong through the line to beat $3.10 favourite Wayupinthesky by 1-1/4-lengths with Excused a length away third.

"It's not often that a plan comes off, but I targeted this race from a long way out and it worked out perfectly today," Kavanagh said.

"Hughie rode him great. Big thanks to the team at home who have worked really hard to get here and it's a great boost to the stable.

"He settled in a good spot and as he came around the turn I just thought, 'wow, he's really going to get going now'."

Kavanagh said the gelding operation and also the addition of blinkers had both helped Excess Funds who took his record to three wins from nine starts.

The Redelva Stakes and Euclase Stakes against his own age in Adelaide are now on the radar for Excess Funds while Kavanagh has also not ruled out a crack at the Group One Goodwood if the three-year-old keeps stepping up.

"Time will tell," the Flemington trainer said.

"That would be the sixth run in and might be an ideal situation.

"I'd love to if he's going well and if we looked like getting in, it could be worth having a shot at.

"Winning with authority today you'd have to start having a look at those sort of races."