If I did not feel these were somewhat  inappropriate for 80 year old's... I would not be still replying here...

 RoB is failing to specifically address issues around capital preservation (with income) for seniors...and this article is a perfect example.
If we get a  2007/8  type of correction again, the last thing they need is a 40% loss of capital from being in this high flying and rate sensitive "niche" sector..
A 40% loss does not feel so great when you are 70/75 etc.
It would be far safer at 75 to have at least 50% reset preferred's/laddered corporate bonds/GIC's etc

My mother, btw, has a nice pension, lives modestly and keeps her $$ in GIC's