Trainer Joe Vassallo admits if it wasn't the TAB Multiplier Victoria Trotters Oaks, it's unlikely he would run top mare I Am Pegasus at Tabcorp Park Melton on Saturday night.

Vassallo is grieving after the recent passing of his mother, who will be farewelled at a funeral today.

Some 24 hours after the service, the Caroline Springs-based horseman will have his first runner in an elite level feature.

"If it wasn't the Oaks, she wouldn't be going around so I don't think there'll be too many celebrations regardless of what happens (on Saturday night)," he said.

"We've organised everything we need to organise and I've been off work during this week. (The race) has probably taken my mind off things a little bit, which has probably helped."

Vassallo has been a hobby trainer for the past 30-odd years and rates I Am Pegasus the best horse he's ever had.

"I've always been a hobby trainer with one or two horses and we've never had a horse good enough to compete in a Group 1 race," he said.

"It's very pleasing to have one that can go around and be competitive in those types of races."

The daughter of Pegasus Spur galloped during her first two career runs but has since won her last five on end and heads into the Oaks as a genuine winning chance.

Drawn in barrier 11, Ross Payne has been booked to take the drive.

"The back row, if she does everything right, I don't think it's going to worry her," he said.

"All her work at home is following another horse and she handles that okay, so it's just a matter of getting that race experience."

I Am Pegasus was bred by Vassallo and is out of a mare by the name of Ginger Gem. She had just the one career start and Abandoned Annie is her only progeny to win at the races.

"We had a mare that was in foal to Pegasus Spur and she died before the foal was born," Vassallo said.

"I had a free service but no mare (so) I leased a mare from Peter Hornsby, who is a trotting man from Shepparton way. The resulting foal is I Am Pegasus.

"(Ginger Gem's) foals have been pretty disappointing, but we've been lucky enough that she has thrown a good one for us."

Vassallo is a project manager at City West Water and trains just two other horses - Song Of Courage and recent Ballarat winner Stunning I Am.

Alison Alford-trained Sleepee is currently favourite for the $60,000 Oaks, with David Miles' Emerald Stride and I Am Pegasus on the next lines of betting.

The race is the feature on an 11-race card and will be run at 8pm.