Enables serine hydrolase activity and triglyceride lipase activity. Involved in positive regulation of triglyceride catabolic process. Located in endoplasmic reticulum membrane. Is expressed in several structures, including alimentary system; genitourinary system; integumental system; nervous system; and sensory organ. Orthologous to human AADAC (arylacetamide deacetylase). [provided by Alliance of Genome Resources, Apr 2022]