Enables phosphate ion binding activity and serine hydrolase activity. Involved in ether lipid metabolic process. Acts upstream of or within SMAD protein signal transduction; protein dephosphorylation; and xenobiotic metabolic process. Located in membrane. Is expressed in nervous system; retina; and tooth. Orthologous to human NCEH1 (neutral cholesterol ester hydrolase 1). [provided by Alliance of Genome Resources, Apr 2022]