Enables mRNA binding activity and poly(A)-specific ribonuclease activity. Involved in several processes, including negative regulation of osteoblast differentiation; positive regulation of fat cell differentiation; and regulation of gene expression. Acts upstream of or within P-body assembly; circadian rhythm; and deadenylation-dependent decapping of nuclear-transcribed mRNA. Located in P-body; nucleus; and perinuclear region of cytoplasm. Is expressed in 2-cell stage embryo; central nervous system; and retina. Orthologous to human NOCT (nocturnin). [provided by Alliance of Genome Resources, Apr 2022]