b'FONDS DE PLACEMENT PROMUTUEL 41COMBINED STATEMENT OF CHANGES IN NET ASSETSFor the year ended December 31, 20212021 2020$ $(in thousands of Canadian dollars)Opening balance 990,064 554,574Net income 61,007 42,8301,051,071 597,404Unit transactionsSubscription of units 235,633 460,257Redemption of units (134,860) (67,597)Increase from unit transactions 100,773 392,660Ending balance 1,151,844 990,064FONDS DE PLACEMENT PROMUTUELCOMBINED STATEMENT OF INCOMEAND COMPREHENSIVE INCOMEFor the year ended December 31, 20212021 2020$ $(in thousands of Canadian dollars)REVENUEInterest 16,718 11,119Dividends 12,385 7,893Gain on investments and derivative financial instruments 34,160 25,22563,263 44,237EXPENSESCustodial and management fees 2,057 1,276Administration fees 199 1312,256 1,407Net income and comprehensive income 61,007 42,830A N N UA L R E P O R T 2021'