Which fund? FSTMX? If so that is a short term redemption fee, only applicable if you redeem within 90-days of purchase.
This is actually exactly the kind of fee you want to see on a fund. It prevents day-trading knuckleheads from increasing the operating costs of a fund. Redemption imposes a small cost on all members of a fund because it incurs transaction costs to generate cash for the redeemer. In taxable accounts it can generate taxable events for the entire fund. You don't want to be in funds where people are constantly jumping in and out, and that is what this fee discourages. It is a good thing, not a bad thing.
If you look at the tax optimized funds over at Vanguard they have even higher redemption fees and holding period requirements of five years. Once you factor in taxes, high turnover in a fund in taxable account is a negative to all fund holders.
Basically redemption fees are to the benefit of sensible long term holders as they keep idiotic day traders out of the fund. You in general should be happy to see them on funds you invest in long term.
If, on the other hand, there is a significant redemption fee even for long holding periods and you are in a tax sheltered account then you might look for a similar fund that only has a short term redemption fee.
