Predicted to enable identical protein binding activity; phosphatidylinositol-3,5-bisphosphate 3-phosphatase activity; and phosphatidylinositol-3-phosphatase activity. Involved in several processes, including dendritic spine maintenance; negative regulation of excitatory postsynaptic potential; and regulation of vesicle-mediated transport. Located in several cellular components, including dendritic spine; postsynaptic density; and synaptic vesicle. Human ortholog(s) of this gene implicated in Charcot-Marie-Tooth disease type 4B1. Orthologous to human MTMR2 (myotubularin related protein 2). [provided by Alliance of Genome Resources, Apr 2022]