S-adenosyl-L-methionine-dependent protein-lysine N-methyltransferase that mono- and dimethylates elongation factor 1-alpha (TEF1 and TEF2) at 'Lys-316'. May play a role in intracellular transport. Defects at both very early and later stages of endocytic transport in cells. Present with 1620 molecules/cell in log phase SD medium. Belongs to the class I-like SAM-binding methyltransferase superfamily. EFM4 family.