Likely functions as a regulatory or scaffold-like protein that modulates the subcellular localization and activity of type I PI(4)P 5-kinases (PIPKs) (By similarity). Lacks intrinsic lipid kinase activity (By similarity). . This is the function of ENSG00000167103 (PIP5KL1, phosphatidylinositol-4-phosphate 5-kinase like 1).