May function in gibberellin signaling pathway downstream of GID1 and SLR1. May be involved in the regulation of plant growth in the basal region of leaf sheaths (Probable). Involved in tolerance to aluminum (PubMed:22676236, PubMed:24253199). Regulates the expression of different genes that collectively contribute to the protection of the cell in response to aluminum stress (PubMed:22676236, PubMed:24253199). Binds to the promoter and regulates the expression of target genes involved in aluminum stress response. Binds to the promoter of STAR1 gene, which encodes an ABC transporter required for aluminum tolerance (PubMed:24253199). Involved in drought tolerance. Plays a positive role in response to drought stress response by regulating abscisic acid (ABA) biosynthesis, promoting stomatal closure, and acting as chaperone-like protein that possibly prevents drought stress-related proteins from inactivation (PubMed:27420922). Expressed in the basal region of leaf sheaths (PubMed:18210155). Highly expressed in stems, and at lower levels in roots, leaf sheaths and panicles (PubMed:24085307). Induced by gibberellin (at protein level) in the nucleus. Induced by abscisic acid (at protein level) (PubMed:18210155). Induced by aluminum in roots and shoots (PubMed:22676236). Induced by abscisic acid (ABA). Induced by drought and cold stresses in leaves (PubMed:24085307). Induced by cold stress, osmotic shock, salt stress, ABA and ethylene (PubMed:27420922). No visible phenotype under normal growth conditions, but mutant plants are hypersensitive to drought stress, and have decreased sensitivity to abscisic acid-induced germination inhibition and oxidative stress-induced growth inhibition. Plants silencing ASR5 exhibit delayed flowering, abnormal panicles, reduced seed number, reduced number of trichomes on leaves, palea and lemma, and exhibit sensitivity to aluminum and drought stress (PubMed:22676236). Plants over-expressing ASR5 exhibit enhanced tolerance to salt stress, osmotic shock and drought stress (PubMed:27420922). Belongs to the abscisic acid and water stress-induced protein family.