(Bloomberg) -- Hedge funds are closing out winning bets on the Brazilian real after it surged more than any other major currency, bracing for headwinds as the nation faces slower economic growth and increasing political turmoil. Kapitalo Investimentos, which oversees over 20 billion reais ($3.8 billion), said in a letter to clients that it unwound its long position in the currency, citing the conflict between President Jair Bolsonaro and the judiciary that’s adding to the country’s economic uncertainty.