Functions as a key regulator of cell membrane composition by regulating protein surface expression. Also, plays a role in regulation of processes including cell migration, cell proliferation, cell contraction and cell adhesion. May play a role in glomerular filtration (PubMed:24814193). Expressed in the arches, orbits, pectoral fins, vessels, pronephric renal tubules, and glomeruli. Belongs to the PMP-22/EMP/MP20 family.