Enables arylesterase activity. Acts upstream of or within cholesterol metabolic process and response to toxic substance. Predicted to be located in intracellular membrane-bounded organelle. Predicted to be part of spherical high-density lipoprotein particle. Predicted to be active in extracellular space. Is expressed in several structures, including alimentary system; brain; genitourinary system; hemolymphoid system gland; and sensory organ. Human ortholog(s) of this gene implicated in several diseases, including artery disease (multiple); cerebrovascular disease (multiple); eye disease (multiple); glucose metabolism disease (multiple); and hematologic cancer (multiple). Orthologous to human PON1 (paraoxonase 1). [provided by Alliance of Genome Resources, Apr 2022]