Enables 3'(2'),5'-bisphosphate nucleotidase activity; inositol-1,4-bisphosphate 1-phosphatase activity; and magnesium ion binding activity. Predicted to be involved in inositol phosphate dephosphorylation and phosphatidylinositol phosphate biosynthetic process. Orthologous to human BPNT1 (3'(2'), 5'-bisphosphate nucleotidase 1). [provided by Alliance of Genome Resources, Apr 2022]