Comprising a first lens group G1 having positive refractive power, disposed at the most object side, and an image side lens group disposed at a side closer to an image than the first lens group G1, upon zooming, at least a distance between the first lens group G1 and the image side lens group being varied, the image side lens group comprising a vibration reduction lens group GVR which is moved so as to have a component in a direction perpendicular to the optical axis and a focusing lens group GF which is moved along the optical axis upon focusing, thereby providing a variable magnification optical system which has a higher optical performance, an optical apparatus and a method for manufacturing a variable magnification optical system.