Predicted to enable SH2 domain binding activity; inositol-polyphosphate 5-phosphatase activity; and phosphatidylinositol-3,4,5-trisphosphate binding activity. Acts upstream of or within several processes, including phosphatidylinositol biosynthetic process; response to insulin; and ruffle assembly. Located in cytoplasm and plasma membrane. Is expressed in several structures, including alimentary system; brain; ear; respiratory system; and testis. Human ortholog(s) of this gene implicated in hypertension; obesity; and type 2 diabetes mellitus. Orthologous to human INPPL1 (inositol polyphosphate phosphatase like 1). [provided by Alliance of Genome Resources, Apr 2022]