It was the evergreen sprinter's 10th win from 32 starts, now with USD $804,143 in total earnings.
According to Pederson, the horse has shown a never-say-die attitude since he first came to the stable as an exuberant colt.
“He's been that way since we've had him as a young horse,” he said.
“He was very rambunctious and we finally gelded him, and he finally settled down into the program.
“He's just been such a good horse over a long period of time.”
Pederson said his team would now aim Fashionably Fast at a threepeat in the Harris Farms Stakes – a $75,000 race over six furlongs for California-bred horses – on October 8.
“Mr (John) Harris has a big farm up in the Central Valley, so any time we need to turn him out and give him a couple of months off we can,” he said.
“He sponsors a race in Fresno and this horse has won it the past two years.
“So we've got to go back for a threepeat now. We'll take him up there – that's kind of his backyard.
“It's not about the money or anything, it's more my appreciation for what he (Harris) does for us.”
Pederson has a special connection with both Fashionably Fast and Harris.
“He's just been a great horse for us. We don't get a lot like him,” he said.
“He's seven years old and this put him at $800,000.
“He's a home-bred for Mr Harris in the wheelchair. He's got Parkinson's.
“He's been a godsend to me and my family.
“To let him enjoy the afternoon, believe me I'm secondary.”
Fashionably Fast registered the fifth win of the Del Mar summer meet for the Pederson stable.
“It's been incredible. We came down and thought we had a couple of live horses because we had some maidens,” the trainer said.
“A filly won (Sensible Move last Friday). She ran second here the first week of the meet.
“She came back and won. And we've got another real nice colt who's going to run on Friday who broke his maiden here – Thorne House.
“He's very impressive. He's a very nice horse, and hopefully he'll be replacing the old man (Fashionably Fast).
“It's far exceeded expectations and we'll enjoy it while we can because we've seen the other side of the fence.”
Earlier on Saturday, Ruben Gomez notched up a milestone when four-year-old filly Derby Quest won race five by 3.25 lengths.
“That was my 50th win,” the delighted trainer said.
“That's what it's all about – working hard.
“I ride all my horses, every single one. So I know how they feel.”