Cleaves glycosylphosphatidylinositol (GPI) and phosphatidylinositol (PI) anchors but not PI phosphates. Potential virulence factor (By similarity). a 1,2-diacyl-sn-glycero-3-phospho-(1D-myo-inositol) = 1D-myo-inositol 1,2-cyclic phosphate + a 1,2-diacyl-sn-glycerol Less protein is secreted in a secG or double secG/secY2 mutant (at protein level).