Phosphatase that acts on lipids with a phosphoinositol headgroup. Has phosphatase activity towards phosphatidylinositol 3-phosphate and phosphatidylinositol 3,5-bisphosphate ( , ). Binds phosphatidylinositol 4-phosphate, phosphatidylinositol 5-phosphate, phosphatidylinositol 3,5-bisphosphate and phosphatidylinositol 3,4,5-trisphosphate (By similarity). Stabilizes SBF2/MTMR13 at the membranes (By similarity). Specifically in peripheral nerves, stabilizes SBF2/MTMR13 protein (By similarity).
Subcellular locations: Cytoplasm, Early endosome membrane, Cytoplasm, Perinuclear region, Cell projection, Axon, Endosome membrane
Partly associated with membranes ( ). Localizes to vacuoles in hypo-osmotic conditions (By similarity).