More than 2-1/2 years after he left New Zealand, Coup Ay Tee is returning home to try to win his biggest prize in front of his owner at Riccarton.

Ray Coupland sent the gelding to Chris Waller 28 starts and more than $650,000 ago and would like nothing more than to see him win the Group Two race he sponsors, the Couplands Bakeries Mile.

Jason Collett has won five races including the Group Three Hawkesbury Gold Cup on Coup Ay Tee and, like the gelding, is returning to his homeland for Wednesday's Group Two race.

New Zealand's champion apprentice in 2011-12, Collett has established himself in Sydney's top 10 riders over the past 16 months.

The record-breaking Waller is another ex-pat Kiwi who is now Australia's leading Group One trainer and a three-time Sydney premiership winner.

But neither he nor Collett has won a Group Two race in New Zealand and the young jockey is looking forward to putting that right in Christchurch.

"It's a big thing for Chris Waller to be taking a horse over there and for me to be riding it," Collett said.

"The horse has drawn well in barrier two and Riccarton is a lovely big sweeping track which should suit him and help him because he has a bit of weight to carry."

Coup Ay Tee is the third favourite at $8 on the NZ TAB behind Final Touch at $3.80 and Scarpalo at $7.

Before he gets to Christchurch, Collett will ride for his trainer father Richard at Monday's Avondale meeting.

"I haven't ridden in New Zealand for around 16 months so it will be good to go back," Collett said.

Coup Ay Tee has won seven races and been placed 11 times in his 28 Australian starts and his earnings highlight the disparity in prize money on either side of the Tasman with the Hawkesbury feature his only stakes win.