Phosphatidylinositol (PtdIns) phosphatase that specifically hydrolyzes the 5-phosphate of phosphatidylinositol-3,4,5-trisphosphate (PtdIns(3,4,5)P3), phosphatidylinositol 4,5-bisphosphate (PtdIns(4,5)P2) and phosphatidylinositol 3,5-bisphosphate (PtdIns(3,5)P2)  (By similarity). Specific for lipid substrates, inactive towards water soluble inositol phosphates . Plays an essential role in the primary cilium by controlling ciliary growth and phosphoinositide 3-kinase (PI3K) signaling and stability (By similarity).
Subcellular locations: Cytoplasm, Cytoskeleton, Cilium axoneme, Golgi apparatus, Golgi stack membrane, Cell membrane, Cell projection, Ruffle, Cytoplasm, Nucleus
Peripheral membrane protein associated with Golgi stacks.
Detected in brain, heart, pancreas, testis and spleen.