Catalyzes the hydrolysis of the 5-position phosphate of phosphatidylinositol 4,5-bisphosphate (PtdIns(4,5)P2) and phosphatidylinositol-3,4,5-bisphosphate (PtdIns(3,4,5)P3), with the greatest catalytic activity towards PtdIns(4,5)P2 ( , ). Able also to hydrolyze the 5-phosphate of inositol 1,4,5-trisphosphate and of inositol 1,3,4,5-tetrakisphosphate (, ). Regulates traffic in the endosomal pathway by regulating the specific pool of phosphatidylinositol 4,5-bisphosphate that is associated with endosomes . Involved in primary cilia assembly (, ). Acts as a regulator of phagocytosis, hydrolyzing PtdIns(4,5)P2 to promote phagosome closure, through attenuation of PI3K signaling .
Subcellular locations: Cytoplasmic vesicle, Phagosome membrane, Early endosome membrane, Membrane, Clathrin-coated pit, Cell projection, Cilium, Photoreceptor outer segment, Cell projection, Cilium, Cytoplasmic vesicle, Endosome, Golgi apparatus, Trans-Golgi network, Lysosome
Also found on macropinosomes . Colocalized with APPL1 on phagosomes .
Brain, skeletal muscle, heart, kidney, lung, placenta and fibroblasts. Expressed in the retina and the retinal pigment epithelium.