Enables phosphatidylinositol bisphosphate phosphatase activity; phosphatidylinositol-3-phosphatase activity; and phosphatidylinositol-4-phosphate phosphatase activity. Involved in positive regulation of neuron projection development. Colocalizes with Golgi apparatus; endoplasmic reticulum; and recycling endosome. Human ortholog(s) of this gene implicated in Charcot-Marie-Tooth disease type 4J; Yunis-Varon syndrome; amyotrophic lateral sclerosis type 11; and bilateral parasagittal parieto-occipital polymicrogyria. Orthologous to human FIG4 (FIG4 phosphoinositide 5-phosphatase). [provided by Alliance of Genome Resources, Apr 2022]