Phosphatase that acts on lipids with a phosphoinositol headgroup (PubMed:12045210, PubMed:16399794). Has phosphatase activity towards pho sphatidylinositol 3-phosphate and phosphatidylinositol 3,5-bisphosphate (PubMed:12045210, PubMed:16399794). Binds phosphatidylinositol 4-phosphate, phosphatidylinositol 5-phosphate, phosphatidylinositol 3,5-bisphosphate and phosphatidylinositol 3,4,5-trisphosphate (PubMed:12045210, PubMed:16399794). Stabilizes SBF2/MTMR13 at the membranes (PubMed:23297362). Specifically in peripheral nerves, stabilizes SBF2/MTMR13 protein (PubMed:23297362). a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3-phosphate) + H2O = a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol) + phosphate a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-3,5-bisphosphate) + H2O = a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol-5-phosphate) + phosphate 1,2-dioctanoyl-sn-glycero-3-phospho-(1-D-myo-inositol-3-phosphate) + H2O = 1,2-dioctanoyl-sn-glycero-3-phospho-(1D-myo-inositol) + phosphate 1,2-dioctanoyl-sn-glycero-3-phospho-(1D-myo-inositol-3,5-bisphosphate) + H2O = 1,2-dioctanoyl-sn-glycero-3-phospho-(1D-myo-inositol-5-phosphate) + phosphate Interaction with SBF1/MTMR5 increases phosphatase activity (By similarity). Increases SBF2/MTMR13 catalytic activity towards phosphatidylinositol 3,5-bisphosphate and to a lesser extent towards phosphatidylinositol 3-phosphate (PubMed:16399794). Homodimer (via coiled-coil domain) (PubMed:14530412, PubMed:16399794). Heterotetramer consisting of one MTMR2 dimer and one SBF2/MTMR13 dimer (PubMed:16399794). Heterodimer with SBF1/MTMR5 (By similarity). Heterodimer with MTMR12 (By similarity). Partly associated with membranes (PubMed:14530412, PubMed:23297362). Localizes to vacuoles in hypo-osmotic conditions (PubMed:16399794). Expressed in sciatic nerve and in Schwann cells (at protein level) (PubMed:16399794, PubMed:23297362). Detected in adult dorsal root ganglia, neurons of the central nervous system, motor neurons, cell soma and neurites of sensory neurons, olfactory bulb, cerebellum and hippocampus (PubMed:12045210). In 16.5 dpc embryos, expressed in forebrain, dorsal root ganglia, trigeminal ganglia, kidney, adrenal gland and lung. The coiled-coil domain mediates homodimerization (PubMed:14530412). Also mediates interaction with SBF1/MTMR5 and SBF2/MTMR13 (By similarity). The GRAM domain mediates binding to phosphatidylinositol 4-phosphate, phosphatidylinositol 5-phosphate, phosphatidylinositol 3,5-biphosphate and phosphatidylinositol 3,4,5-trisphosphate. Phosphorylation at Ser-58 decreases MTMR2 localization to endocytic vesicular structures. SBF2/MTMR13 protein levels are decreased in sciatic nerves but not in the brain or in fibroblasts. Belongs to the protein-tyrosine phosphatase family. Non-receptor class myotubularin subfamily. Extended N-terminus.