Predicted to enable phosphatidylinositol-4,5-bisphosphate 4-phosphatase activity. Predicted to be involved in several processes, including phosphatidylinositol dephosphorylation; positive regulation of TORC1 signaling; and proton-transporting V-type ATPase complex assembly. Predicted to be integral component of membrane. Predicted to be active in bounding membrane of organelle and plasma membrane. Orthologous to human PIP4P1 (phosphatidylinositol-4,5-bisphosphate 4-phosphatase 1). [provided by Alliance of Genome Resources, Apr 2022]