Enables phosphatidylinositol binding activity. Involved in melanosome localization; minus-end-directed organelle transport along microtubule; and phagosome maturation. Acts upstream of or within melanocyte differentiation and melanosome transport. Located in late endosome membrane and melanosome membrane. Is intrinsic component of organelle membrane. Part of protein-containing complex. Is expressed in several structures, including genitourinary system; gut; hemolymphoid system; liver; and lung. Orthologous to human MREG (melanoregulin). [provided by Alliance of Genome Resources, Apr 2022]