"Between early November and mid-January, the normally staid municipal bond market plunged; and despite recovering off the lows, federally tax-exempt muni funds with an average credit quality of AA+ still carry yields of better than 6%," notes income expert Carla Pasternak.

The editor of High Yield Investing explains, "Launched in 1991, Nuveen Premier Insured Municipal Bond (NIF) is one of the longest-standing muni funds. It's managed by Nuveen, specialists in the muni area.

"National Grid (NGG), an electricity and natural gas transmission and distribution utility, is a low-risk, income-generating idea," suggests income expert Carla Pasternak.

The editor of High Yield International explains, "Based in London, the company's largest market is still the UK, and it holds a virtual monopoly on the electricity transmission grid in England and Wales.

"Its primary business is to balance the supply and demand of electricity and natural gas and transmit that power from producers to customers across its network of high-voltage transmission wires and natural gas pipelines.

This post is one in a series in which more than 60 newsletter advisors share their Top Stock Picks for 2011. This special report is courtesy of TheStockAdvisors.com.

"MV Oil Trust (MVO) is a U.S. royalty trust which receives 80% of the royalties on all properties of MV Partners; these properties are located in the oil-prone regions of Kansas and Colorado," notes income expert Carla Pasternak.

The editor of High Yield Investing explains, "Currently yielding 7.8%, I have selected the trust as my favorite investment idea for the coming year.

"With a superior dividend yield, reliable cash flows, and great growth prospects Atlantic Power Corp. (AT) is a solid income investment," says income specialist Carla Pasternak.

The editor of High Yield Investing explains, "The company operates 12 hydro, gas, and coal power generating projects in eight states and an 84-mile transmission line in California. It sells power to major electric utilities under long-term purchase agreements, which provide steady and reliable cash flow.

"Earnings were solid in the third quarter. EBITDA rose 15% in the third quarter and 7% in the first nine months of the year compared to the year-ago periods.

"Getty Realty Corp. (GTY), yielding 6.6%, is the largest publicly traded REIT which owns and leases gas stations and convenience stores," notes income specialist Carla Pasternak.

The editor of High Yield Investing explains, "The REIT has provided strong double-digit average returns of 11% annually over the past decade and a half (almost double the 6% for the S&P 500).

She continues, "It owns about 1,060 properties, mainly in the northeastern and mid-Atlantic state and operates nine petroleum distribution terminals.

"My prescription for a cautious yield-seeking investor? Health care REITs. This group of 12 trusts has returned a solid +15% but still carries an average yield of 5.4%," says Carla Pasternak.

The income specialist and editor of High Yield Investing explains, "Of this group, two REITs offer the most appealing valuations: Senior Housing Properties (SNH) and Health Care REIT (HCN).

"As a result of the Financial Reform Act, certain trust preferreds can offer investment-grade safety, robust yields of around 6-7%, and capital gains potential," suggests Carla Pasternak.

The editor of High Yield Investing explains, "Among our top picks in this group are Bank of America Capital Trust IV, 5 7/8% Capital Securities (BAC-U) and Wells Fargo Capital IX 5.625% Trust Preferred Securities (JWF).

"Traditional preferreds are an equity investment in a company. They are normally perpetual -- that is, they have no maturity date. In contrast, trust preferreds are debt, not equity. As such, they provide greater safety than traditional preferred stock.

"The Cushing MLP Total Return Fund (SRV) is a closed-end fund that invests in master limited partnerships (MLPs), MLP bonds, and natural resource companies that are not publicly traded," notes income specialist Carla Pasternak.

The editor of High-Yield Investing explains, "In addition to providing diversification, SRV provides a huge advantage over investing in individual MLPs.

"Unlike individual MLPs, SRV is classified as a corporation for tax purposes and doesn't generate a K-1 form or unrelated business taxable income, which can be taxable in an IRA. In short, SRV offers the high income of MLPs without the tax hassle.

"Atlantic Power Corp. (AT) operates 14 power generation projects and one transmission line in the U.S. and sells power mainly to electric utilities in major U.S. markets," notes income specialist Carla Pasternak.

The editor of High-Yield International explains, "Atlantic took a huge step forward when shares became listed on the NYSE on July 23rd. This listing will add recognition and liquidity to the company.

Investors can now more easily purchase shares without the extra commission associated with purchasing foreign securities. The increased exposure that the NYSE brings could also be advantageous to the share price.

Teekay Offshore Partners (TOO), a master limited partnership, transports and stores crude oil to offshore oil drillers; it operates the world's largest fleet of shuttle tankers, which carry oil from offshore production and storage facilities to onshore terminals," notes income expert Carla Pasternak.

The editor of High Yield Investing explains, "The partnership was designed to increase distributions, both to its parent company and to unitholders like you and me.

"The company holds a 75% share of the UK North Shore shuttle market and is the largest shuttle operator in Brazil. The partnership also operates a fleet of floating storage and floating storage production units, as well as crude oil tankers that carry oil across the seas.

"Israel-based Shamir Optical Industries (SHMR) makes lenses for eyeglasses, focusing on progressive lenses (also called no-line bifocals); it also sells finished lenses directly to opticians and provides design services to other lens manufacturers," says income specialist Carla Pasternak.

The editor of High Yield International asserts, "The shares of this small cap company are attractively valued and carry a juicy 6% yield.

"Like many foreign companies, Shamir pays dividends once per year. The stock paid a $0.61 dividend in December 2009, which was a +150% increase over the 2008 dividend and translates to a solid 6.4% yield.

The editor of High Yield Investing explains, "But now that a recovery has taken hold, dividend increases are back on the rise -- payments among S&P 500 companies are expected to increase +5.6% this year. To celebrate this good news, I've decided to help you track down what I believe is the safest dividend in the S&P.

"WisdomTree International Utilities (DBU) is an excellent way to diversify outside of the U.S. in a defensive portfolio of quality stocks," says Carla Pasternak .

In High Yield International, she explains, "This ETF tracks the WisdomTree International Utilities Sector Index of international dividend-paying utilities outside of the United States and Canada. To be included in the index, companies must have paid at least $5 million in cash dividends on their common stock in the prior year. Positions are weighted based on the amount of regular cash dividends paid.

This post is part of a special report, Top Picks for 2010, the 27th annual survey in which TheStockAdvisors.com asks the nation's leading advisors for their single favorite stock for the new year. See all 80 stocks listed here.

"Atlantic Power Corp. (ATP) sells power primarily to electric utilities in major U.S. markets under long-term contracts," notes income specialist Carla Pasternak.

The editor of High Yield Investing and High Yield International explains, "The firm has reorganized its share structure, has been listed on the Toronto exchange and expects a NYSE-listing shortly."