Inositol 5-phosphatase which acts on inositol 1,4,5-trisphosphate, inositol 1,3,4,5-tetrakisphosphate, phosphatidylinositol 4,5-bisphosphate and phosphatidylinositol 3,4,5-triphosphate. Has 6-fold higher affinity for phosphatidylinositol 4,5-bisphosphate than for inositol 1,4,5-trisphosphate. May negatively regulate assembly of the actin cytoskeleton.
Ubiquitously expressed with highest levels in skeletal muscle, heart and kidney.
Belongs to the inositol-1,4,5-trisphosphate 5-phosphatase type II family.
Endoplasmic reticulum. Following stimulation with EGF, translocates to membrane ruffles.