Binds to poly-U elements and AU-rich elements (AREs) in the 3'-UTR of target mRNAs. Required for the vegetal localization of vg1 mRNA. Probably required for nervous system development (By similarity). Part of a ribonucleoprotein (RNP) complex, at least composed of elavl1/elrA and/or elavl2/elrB, igf2bp3/vg1RBP, ddx6/Xp54, ybx2/frgy2, lsm14b/rap55b and, in a subset of RNP complexes, stau1/staufen. Binds RNA as a homooligomer (By similarity). Enriched at the vegetal cortex in stage III and IV oocytes. Belongs to the RRM elav family.