Component of the PAN1 actin cytoskeleton-regulatory complex required for the internalization of endosomes during actin-coupled endocytosis. The complex links the site of endocytosis to the cell membrane-associated actin cytoskeleton. Mediates uptake of external molecules and vacuolar degradation of plasma membrane proteins. Plays a role in the proper organization of the cell membrane-associated actin cytoskeleton and promotes its destabilization. Required for the bipolar budding of diploid cells and the correct distribution of chitin at the cell surface. Forms homooligomers. Component of the PAN1 actin cytoskeleton-regulatory complex composed of at least END3, PAN1, and SLA1. Interacts directly with END3, and with ENT1, SCD5, SLA2, YAP1801 and YAP1802. Cytoplasmic and cortical actin patches. The N-terminus is blocked. Phosphorylated by PRK1 on threonine residues in the L-x-x-Q-x-T-G motif of repeats 1-6 to 1-15 (PubMed:9885245, PubMed:11739778, PubMed:17978096). Phosphorylated by ARK1 (PubMed:17978096). Belongs to the PAN1 family. Was originally thought to be a subunit of PAB-dependent poly(A)-specific ribonuclease.