Is cap for Apple Pencil magnetic?

I've just gotten a new Apple pencil for my new iPad Pro. Some web user guides suggest attaching the pencil cap to the iPad magnetically, while charging (to avoid losing it). However, my cap isn't magnetic of itself. Should it be?

P.S. The information that comes with it is almost invisible, being pale gray text on white. This is even more unreadable than the pale yellow on white that Apple Mail uses for its junk folder. What happened to the formerly vaunted good design Apple was noted for? (The info is also almost useless, being just a warranty and safety instructions.) NOT user friendly.